Transactions

Meridian Capital Group, LLC announced the following transactions:
• A new mortgage in the amount of $6,000,000 on a 56-unit, four-story multifamily building located on 89th Street in Jackson Heights, NY. The loan features a rate of 2.95% and a 10-year term. Joe Taub negotiated this transaction.
• A new mortgage of $5,200,000 on an 83-unit, six-story multifamily building located on East 170th Street in Bronx, NY. The loan features a rate of 3.13% and a 10-year term. Scott Assouline negotiated this transaction.
• A new mortgage in the amount of $4,480,000 on a 61-unit, five-story multifamily building located on Selwyn Avenue in Bronx, NY. The loan features a rate of 3.25% and a 10-year term. Avi Weinstock negotiated this transaction.
• A new mortgage of $3,100,000 on a 46-unit, five-story multifamily building located on Bedford Avenue in Brooklyn, NY. The loan features a rate of 3.00% and a five-year term. Chaim Tessler and Daniel Kirzner negotiated this transaction.
• A new mortgage in the amount of $1,250,000 on a 37-unit, five-story multifamily building located on Morris Avenue in Bronx, NY. The loan features a rate of 3.10% and a 10-year term. Avi Weinstock negotiated this transaction.
• A new mortgage of $1,250,000 on a 12-unit, three-story multifamily building located on Knickerbocker Avenue in Brooklyn, NY. The loan features a rate of 3.15% and a 10-year term. Judah Hammer and David Bollag negotiated this transaction.
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GCP Capital Group LLC has arranged mortgage financing in the aggregate amount of $21,625,000 for the following properties:
• $6,800,000 for 2 four-story apartment buildings containing a total of 71 apartments and 1,200 square feet of commercial space, located on Fourth Avenue in Brooklyn. Paul Greenbaum arranged the financing.
• $3,375,000 for a five-story apartment building containing 56 apartments, located on Walton Avenue in the Bronx. Michael Charnowitz arranged the financing for this transaction.
• $4,600,000 for a four-story apartment building containing 42 apartments, located on 88th Street in Brooklyn. Paul Greenbaum arranged the financing.
• $4,350,000 for a newly built retail shopping center comprised of 18,550 s/f, located in Northport, Suffolk County. Deborah Classi-Lewis arranged the financing.
• $2,500,000 for a five-story mixed-use building containing 22 apartments and 4 commercial spaces, located on Mohegan Avenue in the Bronx. Michael Charnowitz arranged the financing.
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HFF secured first mortgage financing for 9-11 Chapin Road and 9-15 Riverside Drive, two industrial assets totaling 156,835 s/f in Pine Brook, NJ. Working exclusively on behalf of The Frassetto Companies, Inc., HFF placed the 10-year, fixed-rate loan with a local community bank. 9-11 Chapin Road and 9-15 Riverside Drive are located off Route 46 near the intersection of Interstates 80 and 287 in the northeastern portion of Morris County, New Jersey. The properties are fully leased to multiple tenants. The HFF team representing The Frassetto Companies, Inc. was led by director Michael Klein and senior managing director Tom Didio.
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Pergolis Swartz Associates Inc. announced the following transactions:
• Barry Swartz closed permanent financing in the amount of $12,500,000 for a six story elevator apartment building containing 39 units on West 12th Street in Manhattan.
• A permanent loan in the amount of $3,350,000 was obtained by Barry Swartz for a five story apartment building containing 12 units on West 52nd Street in Manhattan.
• A permanent mortgage in the amount of $2,500,000 was arranged by Richard Pergolis for a three story commercial building containing 30,000 s/f located on Fulton Street in Brooklyn.
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First Niagara’s Commercial Real Estate Group has announced closing on a $3.7 million, seven-year loan to fund renovations of an 8,500 s/f mixed-use building in Manhattan. The borrower is The Daten Group. The five-story building at 1462 Second Avenue, features 2,000 s/f of ground-floor retail space and eight 813 s/f walk-up apartments. The retail tenant is a restaurant scheduled to open later this year. The Daten Group purchased the building in 2011 and began renovations soon thereafter. he First Niagara loan will fund the renovations completed to date, as well as other planned improvements to the building. Tracy Dembicer handled the transaction.
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Silo Financial Corp. provided a $3.45 million first mortgage loan for acquisition and construction of a luxury home in Southampton, New York. The property is a 0.33 acre site with a single-family residence at 240 Little Plains Road. The borrower, an experienced developer with a successful track-record in the Hamptons, plans to demolish the existing structure and construct a three-level, 3,300 s/f shingle-style home with a swimming pool and pool house. The loan is secured by the borrower’s more than $1.2 million contribution at closing in addition to equity via a second mortgage on a 4,500 s/f, five-bedroom Southampton home situated on 1.82 acres. Jonathan Daniel, founder and CEO of Silo Financial, made the announcement.