Meridian Capital announced the following transactions:
• A new mortgage of $7,200,000 on a six-story, 54-unit multifamily property located on West 148th Street in New York, NY. The loan features a rate of 2.88% and a five-year term. This transaction was negotiated by Allan Lieberman and Asher Haft.
• A new mortgage in the amount of $8,810,000 on an 86-unit multifamily property located on Charlotte Court in Central Valley, NY. The loan features a rate of 3.00% and a five-year term. Morris Diamant and Tzvi Krieger negotiated this transaction.
• A new mortgage of $7,475,000 was placed by Meridian on a six-story, 65-unit multifamily property located on Brighton 7th Street in Brooklyn, NY. The loan features a rate of 3.00% and a five-year term. This transaction was negotiated by Josh Rhine.
• A new mortgage in the amount of $4,500,000 on a five-story, 13-unit mixed-use property located on Madison Avenue in New York, NY. The loan features a rate of 3.00% and a five-year term. David Hayum and Moe Rosenblum negotiated this transaction.
• A new mortgage of $3,000,000 was placed by Meridian on a 65-unit multifamily property located on Greenwich Street in Hempstead, NY. The loan features a rate of 2.90% and a five-year term. This transaction was negotiated by Cary E. Pollack and Steven Cohen.
• A new mortgage in the amount of $1,750,000 on a six-story, 47-unit multifamily property located on Carroll Street in Brooklyn, NY. The loan features a rate of 2.88% and a five-year term. Morris Diamant and Steven Ribiat negotiated this transaction.
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Cronheim Mortgage announced the following transactions:
• Andrew Stewart and Dev Morris arranged $4.0 million in financing for Franklin Shopping Center, a 56,100 sf retail center located along the Route 23 retail corridor in Franklin, Sussex County, New Jersey. The subject property features a mix of national and regional tenants including ShopRite Liquors, Dollar Tree, and Mandee, among others.
• Andrew Stewart and Dev Morris arranged financing for a retail center located in Springfield, Union County, New Jersey. The 10 year self-liquidating loan was structured with a fixed-rate and flexible prepayment schedule for the borrower, an affiliate of Wainwright Realty Co. Limited Partnership. The loan was placed with Southern Farm Bureau Life Insurance Company, whom Cronheim represents as correspondent and servicing agent.
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Eastern Union Funding announced the following transactions:
• A $4,550,000 first lien mortgage for the refinance of a 32-unit multifamily in Flushing, NY. This transaction was negotiated by Nate Hyman and David Metzger
• A $4,200,000 construction take-out for the refinance of a 100,000 square foot office park in Howell, NJ. This transaction was negotiated by Zevi Schwartz
• A $2,900,000 first lien mortgage for the refinance of a mixed use, consisting of ten residential units and one commercial space, on Myrtle Avenue in Brooklyn, NY. This transaction was negotiated by David Eisen
• A $1,500,000 first lien mortgage for the refinance of a 16-unit multifamily property in on Flatbush Avenue in Brooklyn, NY. This transaction was negotiated by Moshe Lipschitz
• A $1,300,000 first lien mortgage for the refinance of a 54-unit multifamily property in Orange, NJ. This transaction was negotiated by Michael Muller
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GCP Capital Group arranged mortgage financing in the aggregate amount of $31,325,000 for the following properties:
• $10,000,000 for 4 five-story apartment buildings containing a total of 95 apartments, located in the Inwood section of Manhattan. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
• $7,000,000 for 4 office buildings comprised of approximately 180,000 gross square feet, located in Westchester County. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $5,890,000 for 4 three-story and 2 two-story apartment buildings containing a total of 24 apartments and 1 commercial unit, located throughout Queens and Brooklyn. Matthew Albano, Senior Broker of GCP Capital Group, arranged the financing for these properties.
• $5,285,000 for 4 individual single story commercial properties comprised of over 30,000 square feet, located throughout Nassau and Suffolk Counties in Long Island. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for these properties.
• $3,150,000 for a five-story apartment building containing 35 apartments, located on Kossuth Avenue in the Bronx. Adam Brostovski arranged the financing.
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Washington Trust’s Commercial Real Estate Group provided $4.125 million to Metro 254, LLC and Metro 260, LLC to finance the acquisition and renovation of a mixed-use retail property and parking garage in New Haven, CT. The properties, both located on Crown Street, reside in the Entertainment District of Downtown New Haven, within walking distance of Yale University and Yale New Haven Hospital. Combined, the properties consist of 10,840 s/f of retail space and a 120-car parking garage. Two longtime New Haven restaurants, Bar and Aladdin Crown Pizza, currently occupy the retail space. Metro 254, LLC and Metro 260, LLC are borrowing entities of Metro Star Capital, LLC, a Connecticut Real Estate Development company founded by Robert Smith.
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Pergolis Swartz Associates announced the following transactions:
• Michael Volpe negotiated a permanent mortgage in the amount of $1,500,000 for a 15,000 square foot retail strip center in Richmond Hill, NY.
• Barry Swartz closed a permanent mortgage in the amount of $4,400,000 for a six story walk up apartment building containing 10 residential units and 4 commercial spaces located on East 3rd Street in Manhattan.
• Len Solinsky arranged for permanent financing in the amount of $1,500,000 for a 5 unit residential apartment building on Saint Nicholas Avenue in Brooklyn.
