Transactions

Meridian Capital Group, LLC announced the following transactions:
• A new mortgage in the amount of $1,850,000 on a 46-unit, six-story multifamily building located on Frisby Avenue in Bronx, NY. The loan features a rate of 3.00% and a 10-year term. Judah Hammer and Michael Ryback negotiated this transaction.
• A new mortgage of $6,900,000 on an eight-unit, five-story mixed-use building featuring 5,200 s/f of retail space located on Ninth Avenue in New York, NY. The loan features a rate of 3.25% and a 10-year term. Scott Assouline and Jacob Nefoussi negotiated this transaction.
• A new mortgage in the amount of $4,000,000 on three multifamily buildings totaling 23 units located on West 100th Street in New York, NY. The loan features a rate of 3.00% and a 10-year term. Jacob Rochlitz negotiated this transaction.
• A new leasehold mortgage of $2,500,000 with a $500,000 credit line was placed by Meridian on a 123-unit, 20-story cooperative building located on East 63rd Street in New York, NY. The loan features a rate of 3.25% and a 15-year term. Steve Geller and Nicoletta Pagnotta negotiated this transaction.
• A new mortgage in the amount of $2,500,000 on an eight-unit, five-story multifamily building located on First Avenue in New York, NY. The loan features a rate of 3.00% and a 10-year term. Charles Grussgott negotiated this transaction.
• A new mortgage of $2,500,000 on a 38-unit, four-story multifamily building located on 13th Avenue in Brooklyn, NY. The loan features a rate of 3.25% and a 10-year term. Charles Grussgott negotiated this transaction.
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GCP Capital Group LLC arranged mortgage financing in the aggregate amount of $26,000,000 for the following properties:
• $12,600,000 for a five-story elevator apartment building containing 90 apartments, located on Taaffe Place in Brooklyn. Adam Brostovski arranged the financing.
• $4,800,000 for a five-story walk-up apartment building containing 61 units and 6,300 s/f of retail space, located on Broadway in Manhattan. Louis Perlmutter arranged the financing.
• $4,600,000 for a five-story walk-up apartment building containing 15 units and 2,200 s/f of retail space, located on Spring Street in Manhattan. Matthew Classi arranged the financing.
• $3,000,000 for a four-story mixed-use building containing 6 apartments and 1,300 square feet of retail space, located on West 46th Street in Manhattan. David Sessa arranged the financing.
• $1,000,000 for a three-story walk-up apartment building containing 6 apartments, located on Metropolitan Avenue in Brooklyn. Matthew Albano arranged the financing.
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Pergolis Swartz Associates Inc. announced the following transactions:
• Barry Swartz arranged a permanent mortgage in the amount of $14,250,000 for two five story mixed use elevator apartment buildings containing a total of 40 residential units and two stores located on West 14th Street in Manhattan.
• Barry Swartz closed permanent financing in the amount of $5,400,000 for a five story elevator apartment building containing 20 residential units located on West 54th Street in Manhattan.
• Barry Swartz obtained a permanent mortgage in the amount of $2,500,000 for a Pathmark Shopping Center in Hackensack, NJ.
Michael Volpe closed a bridge loan in the amount of $1,000,000 for the acquisition of a mixed use property on Central Avenue in Brooklyn.
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Eastern Union announced the following transactions:
• An $11,500,000 first lien mortgage for the refinance of a 152 bed skilled nursing facility in Carneys Point, NJ. This transaction was arranged by Shaya Ackerman.
• A $4,600,000 first lien mortgage for the refinance of a 10,300 SF retail property on Kings Highway in Brooklyn, NY. This transaction was arranged by Jack Beida.
• A $3,250,000 first lien mortgage for the refinance of a mixed use property consisting of four residential units and 2 retail tenants on East 59th Street in New York, NY. This transaction was arranged by Mark Perlowitz and Beth Perlstein.
• A $2,800,000 first lien mortgage for the refinance of a 31,000 SF retail/ office property on Broadway in Bronx, NY. This transaction was arranged by Dov Zabrowsky.
• A $2,665,000 first lien mortgage for two multifamily properties with a total of 50 units in Newark, NJ. This transaction was arranged by Michael Muller.
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HKS Capital Partners LLC announced the following recent transactions:
• A $6.48 million 10-year permanent financing loan at 4 % on a seven story, 52-unit multi-family building in the Bronx with basement level and parking spaces. Ayush Kapahi negotiated this transaction.
• A $6 million first mortgage, $3.5 million earn out, interim financing on an 80 unit apartment with a 50% vacancy, located in New York, NY. This loan was levered at 75 %, with a fixed interest only rate of 5.375% for two years. Ayush Kapahi negotiated this transaction.
• A $5.85 million five year fixed refinance loan at 3.625% on a four story, 15-unit unsold condominium/mixed-use building in Flushing, Queens with cash out. It includes release provisions for each individual unit the borrower can sell at any time. Michael Lee negotiated this transaction.
• A $2.175 million bridge loan at 5.5% for one year on a land acquisition in the Bronx. Ayush Kapahi brokered this transaction.
• A $1,342,250 two year construction loan at 4.75% on a five-story, six-unit Brooklyn condominium building with 5,500 s/f. John Harrington negotiated this transaction.
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David Turley and Janet Proscia of Cronheim Mortgage secured $10.3 million in financing for a 74,326 s/f medical office building in King of Prussia, PA. The loan was placed with a CMBS lender on a 10 year term with a 30 year amortization schedule. The client, a major Philly-based developer, had an upcoming loan maturity that required an expedited closing.