Meridian Capital announced the following transactions:
• A new mortgage of $1,300,000 on a four-story, 10-unit multifamily property located on Jefferson Avenue in Brooklyn, NY. The loan features a rate of 3.18% and a five-year term. This transaction was negotiated by Jacob Schmuckler and Sam Shifer.
• New mortgages totaling $24,000,000 on two mixed-use properties composed of 101 units and 9,760 square feet of retail space located on Seventh Avenue and Broadway in New York, NY. These loans feature rates of 3.25% and five-year terms. Jeffrey Weinberg and Simon Rosenfeld negotiated these transactions.
• New mortgages totaling $19,900,000 were placed on five multifamily properties composed of 201 units located in the Prospect Park South, Borough Park and South Slope neighborhoods of Brooklyn, NY. These loans feature rates of 3.25% and five-year terms. Charles Grussgott negotiated these transactions.
• New mortgages totaling $10,455,000 on five multifamily properties composed of 63 units located on West 115th Street in New York, NY. These loans feature rates of 3.25% and five-year terms. Scott Assouline and Isaac Lifshitz negotiated these transactions.
• A new mortgage of $3,300,000 was placed on a five-story, 20-unit multifamily property located on Cortelyou Road in Brooklyn, NY. The loan features a rate of 3.25% and a five-year term. This transaction was negotiated by Morris Diamant and Tzvi Krieger.
• A new mortgage in the amount of $1,700,000 on a four-story, six-unit mixed-use property located on Stuyvesant Avenue in Brooklyn, NY. The loan features a rate of 3.25% and a five-year term. Isaac Filler and Sam Shifer negotiated this transaction.
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Brick Realty Capital LLC, through an affiliate entity, has funded a second mortgage in the amount of $2,850,000.00 to a local real estate investor. The collateral, located in Tribeca, is comprised of a five story mixed use building comprised of retail, residential and office tenants. The interest only loan is for a two year term. Jason Au, director of finance, arranged the financing.
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GCP Capital Group LLC arranged mortgage financing in the aggregate amount of $20,300,000 for the following properties:
• $8,400,000 for an eight-story apartment building containing 105 apartments and 2 ground floor retail units, located in Paterson, New Jersey. Adam Brostovski arranged the financing.
• $4,500,000 for a five-story apartment building containing 40 apartments and 4 professional office units, located on Grand Concourse in the Bronx. Paul Greenbaum arranged the financing.
• A $4,000,000 land loan for a vacant parcel of land comprised of 13,130 square feet, located on Third Avenue in Manhattan. Adam Brostovski arranged the financing.
• $2,250,000 for a five-story apartment building containing 12 apartments and 1,100 square feet of commercial space, located on Jones Street in Manhattan. Matthew Albano arranged the financing.
• $1,150,000 for a 7,000 square foot commercial co-op, located on the 9th Floor of a 12-story cooperative building at West 29th Street in Manhattan. George Spanos arranged the financing.
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Eastern Union Funding arranged the following transactions:
•A $13,950,000 first lien mortgage for the refinance of a 7 building portfolio in Jersey City, NJ. Michael Muller negotiated this transaction at 3.625% for a 10 year term.
• A $12,400,000 first lien mortgage for the refinance of a 3 building, 142 unit multifamily portfolio in Bronx, NY. Michael Muller negotiated this transaction at 3.75% for a 10 year term .
• A $1,968,750 first lien mortgage for the purchase of a 27 unit multifamily building on Field Pl in Bronx, NY. This transaction was negotiated by Nate Hyman and David Metzger.
• A $1,550,000 first lien mortgage for the refinance of a 16 unit multifamily building on Elton Street in Brooklyn, NY. This transaction was negotiated by David Eisen at 3.625 for 12 year term.
• A $1,500,000 first lien mortgage for the refinance of a Mixed-Use property consisting of 6 residential units and 2 commercial tenants on Ditmars Blvd in Queens, NY. This transaction was negotiated by Aaron Panigel and Jonathan Singer at 4% for 7 years.
• A $1,500,000 first lien mortgage for the refinance of a 5 unit multifamily building on Flushing Ave in Brooklyn, NY. This transaction was negotiated by Jonathan Singer and Isaac Sternhill.
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HKS Capital Partners LLC negotiated the following deals totaling over $45 million:
• A $20 million second mortgage financing coterminous with the existing bank first mortgage of a (1000+ key hotel) located in Times Square. The loan features a rate of 150 basis points over the ten year swap with a floor of 4% and a term of ten years, with ten years interest only. Ayush Kapahi negotiated this transaction.
• A $10.4 million permanent financing of three Harlem buildings . One is a five-story mixed-use building comprised of five residential units and one common commercial unit. The other two are five-story buildings, each comprised of four residential units and one common commercial unit. The loan features a rate of 3.5% and a term of five years. John Harrington negotiated this transaction.
• A $5.65 million permanent financing of a multi-family property located in Williamsbridge, Bronx. The loan features a rate of 4.94% and a term of ten years. Ayush Kapahi negotiated this transaction.
• A $4.275 million ground up construction of a four-story, 18-unit multi-family property located in White Plains. The loan features a rate of 5.19% and a term of ten years. Ayush Kapahi negotiated this transaction.
• A $3.7 million permanent financing of an eight-story multi-family property comprised of 16 residential and two commercial units located in the East Village. The loan features a rate of 3.875% and a term of seven years. Ayush Kapahi negotiated this transaction.
• A $2.5 million permanent financing of a five-story, 16-unit rental building comprised of 15 residential units and one commercial unit located in the East Village. The loan features a rate of 3.5% and a term of seven years. Ayush Kapahi negotiated this transaction.
• A $1.325 million finance of a four-story, four-unit mixed use property comprised of three residential units and one commercial property in Clinton Hill, Brooklyn. The loan features a rate of 4.25% and a term of five years. Michael Lee negotiated this transaction.
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North East Community Bank (NECB) closed the following:
• $500,000 multifamily 4 story with basement, containing 8 residential units in the Southeast section of Yonkers, New York.
• A first mortgage of a $650,000 multi-family 3 story walk-up building with 6 apartments located in the Ridgewood section of Queens.
• $1,025,000 first mortgage 3 story, mixed-use building containing 4 apartments and 4 commercial units in the Jackson Heights section of Queens.
• $500,000 semi-attached residential 3 story plus basement walk-up building containing 6 unit in the East New York section of Brooklyn.
• $1,000,000 mortgage on 2-three story plus basement walk up buildings containing a total of 8 units in the Bedford Stuyvesant neighborhood of Brooklyn.
• A first mortgage of $675,000 on a fully attached 3 story multifamily building with a total of 6 units located in the Bushwick section of Brooklyn.
• $450,000 multifamily 3 story walk-up building plus basement containing 6 apartments in the East New York section of Brooklyn.
• $1,500,000 multifamily 6 story elevator building containing 12 residential units in the Upper West Side.
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Pergolis Swartz Associates Inc. announced the following transactions:
• Michael Volpe closed a permanent mortgage in the amount of $2,000,000 for two walk-up apartment buildings on 42nd Street in Astoria, Queens.
• Barry Swartz obtained a permanent loan in the amount of $5,250,000 for two 4-story apartment buildings totaling 63 units on President Street in Brooklyn.
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