Meridian Capital announced the following transactions:
• A new mortgage of $8,200,000 on a six-story, 56-unit multifamily property located on Ocean Avenue in Brooklyn, NY. The loan features a rate of 2.88% and a five-year term. This transaction was negotiated by Scott Assouline and Jacob Nefoussi.
• A new mortgage in the amount of $4,670,000 on a five-story, 50-unit multifamily property located on Hoffman Street in the Bronx, NY. The loan features a rate of 3.38% and a seven-year term. Simon Rosenfeld and Jack Harary negotiated this transaction.
• A new mortgage of $4,500,000 was placed on a three-story, eight-unit multifamily property located on East 117th Street in New York, NY. The loan features a rate of 3.63% and a five-year term. This transaction was negotiated by Chaim Tessler.
• A new mortgage in the amount of $3,200,000 on a six-story, 20-unit multifamily property located on West 51st Street in New York, NY. The loan features a rate of 3.00% and a five-year term. Morris Diamant and Jacob Rochlitz negotiated this transaction.
• A new mortgage of $3,000,000 was placed on a five-story, eight-unit mixed-use property with 1,275 square feet of retail space located on First Avenue in New York, NY. The loan features a rate of 3.50% and a seven-year term. This transaction was negotiated by David Hayum and Jacob Fischer.
• A new mortgage in the amount of $2,260,000 on a five-story, 25-unit multifamily property located on Clay Avenue in the Bronx, NY. The loan features a rate of 3.00% and a five-year term. David Fisher and Michael Salamon negotiated this transaction.
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Kennedy Funding Financial LLC arranged a $3.2 million loan backed by a $15 million Manhattan penthouse condominium, announced Gregg Wolfer, COO. The funding was obtained by Franklin Place New York, LLC, a two-year, interest-only loan that carries a starting interest rate of 8%. The loan was utilized to refinance an existing loan and to provide working capital. The collateral is a first lien on a four-bedroom, 4.5-bath penthouse unit within the Grand Millennium Condominium building at 1965 Broadway in New York City.
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GCP Capital Group LLC arranged mortgage financing in the aggregate amount of $39,800,000 for the following properties:
• $15,000,000 for a 30,500 s/f historic, five-story residential loft building, located in the SoHo neighborhood of Manhattan, New York. Matthew Classi, managing member, arranged the financing for this transaction.
• $13,500,000 for a 62,000 s/ffamily housing facility, located in Brentwood, Suffolk County, New York. Matthew Classi and Paul Greenbaum, managing members, arranged the financing for this transaction.
• $5,500,000 for a six-story mixed-use building containing 21 apartments and 1,700 s/fof commercial space, located in Downtown Manhattan, New York. Paul Greenbaumarranged the financing.
• $3,100,000 for a five-story multifamily building containing 21 apartments, located on West 135th Street in Manhattan New York. David Sessa, senior associate, arranged the financing.
• $2,700,000 for a six-story apartment building containing 28 units with 1,150 square feet of commercial space, located on West 181st Street in Manhattan, New York. Adam Brostovski, principal, arranged the financing for this transaction.
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Eastern Union Funding announced the following transactions:
• A total of $11,890,000 first lien mortgages for the refinance of three multifamily properties in Bronx, NY. These transactions were negotiated by Ira Zlotowitz, Michael Muller and Dov Zabrowsky.
• An $8,000,000 first lien mortgage for the refinance of a 64-unit multifamily property in Philadelphia, PA. This transaction was negotiated by Eli Breiner.
• A $5,625,000 first lien mortgage for the acquisition of a 14-unit multifamily property in New York, NY. This transaction was negotiated by Ira Zlotowitz and Michael Muller.
• A $4,350,000 first lien mortgage for the acquisition of a 32-unit multifamily property in Brooklyn, NY. This transaction was negotiated by Nate Hyman and David Metzger.
• A $4,000,000 first lien mortgage for the acquisition of a 44-unit multifamily property in Jersey City, NJ. This transaction was negotiated by Ira Zlotowitz and Michael Muller
• A $2,380,000 first lien mortgage for the refinance of a four-story apartment building in Brooklyn, NY. This transaction was negotiated by Ira Zlotowitz, Michael Muller and Dov Zabrowsky.
