ABS Altman Warwick closed an $8.5 million loan on behalf of Wharton Properties for its single tenant retail building at 810 Main St. in New Rochelle, N.Y. Morris Dweck secured a five-year, full-term interest-only loan at 2.88 percent rate. The 7,239 s/f building is situated on several contiguous lots totaling 50,000 s/f with on-site parking. The site is located a few blocks from exit 15 off of I-95. Formerly a free-standing Walgreens drug store, Wharton inked a new long-term lease with Bank of America to occupy the entire building.
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Arbor Realty Trust funded three loans totaling $7 million under the Fannie Mae Small Loans program. Sam Schwass of Arbor’s New York City office originated the loans:
• Spanish Viento Apartments, Little Rock, AR – This 109-unit community features scenic, tree-lined homes and a pool. It’s close to local shopping and attractions such as the Little Rock Zoo, Central Arkansas Nature Center, and the Museum of Discovery. Built in 1972 and renovated in 2018, the property received $3.5M in acquisition funding.
• Santos Villas, Tampa, FL – This 40-unit, two-story complex features amenities such as balconies, smoke-free options, on-site parking and high speed internet access. Convenient to shopping centers, recreation and local transportation, Santos Villas received $1.8M in acquisition funding.
• Treetop Haven Luxury Apartments, Milcreek, UT – These spacious new apartments feature amenities ranging from smart home technology to valet trash pickup to stainless steel appliances and hard wood style floors. Located near a variety of shopping, restaurant and entertainment alternatives, the property received $1.7M in refinance cash-out funding.
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Eastern Union Funding announced the following transactions:
• A $14,200,000 first lien mortgage for the refinance of hotel in Manhattan, NY. This transaction was arranged by Mendy Pfeifer, Motti Blau and Chaim Lefkowitz.
• A $8,300,000 first lien mortgage for the refinance of a 50-unit multifamily property in New York, NY. This transaction was arranged by Michael Muller.
• A $4,800,000 first lien mortgage for the refinance of a 15-unit multifamily property in Brooklyn, NY. This transaction was arranged by Meir Kessner and David Eisen.
• A $4,500,000 first lien mortgage for the refinance of an office building in Jackson, NJ. This transaction was arranged by Moti Amsel.
• A $3,900,000 first lien mortgage for the acquisition of an office building in Morganville, NJ. This transaction was arranged by Jay Tyberg.
• A $2,169,000 first lien mortgage for the acquisition of a shopping center in Springfield, OH. This transaction was arranged by Marc Tropp.
• A $1,936,000 first lien mortgage for the acquisition of a 16-unit multifamily property in Woodbridge, NJ. This transaction was arranged by Chesky Gross.
• A $1,885,000 first lien mortgage for the refinance of a 12-unit multifamily property in Brooklyn, NY. This transaction was arranged by Efraim Perlowitz and Isaac Weiss.
• A $1,850,000 first lien mortgage for the refinance of a shopping center in Brooklyn, NY. This transaction was arranged by Alex Freund.
• A $1,715,000 first lien mortgage for the refinance of a 12-unit multifamily property in East Orange, NJ. This transaction was arranged by Motti Blau, Mendy Pfeifer and Dov Bakon.
• A $1,680,000 first lien mortgage for the acquisition of land in Brooklyn, NY. This transaction was arranged by Motti Blau and Mendy Pfeifer.
• A $1,625,000 first lien mortgage for the refinance of a 42-unit multifamily property in Rochester, NY. This transaction was arranged by Chaim Greenfeld.
• A $1,625,000 first lien mortgage for the refinance of a 62-unit multifamily property in Rochester, NY. This transaction was arranged by Chaim Greenfeld.
• A $1,490,000 first lien mortgage for the refinance of a 41-unit multifamily property in Rochester, NY. This transaction was arranged by Chaim Greenfeld.
• A $1,275,000 first lien mortgage for the refinance of a multifamily property in Brooklyn, NY. This transaction was arranged by Isaac Weiss.
• A $1,232,000 first lien mortgage for the acquisition of a 18-unit multifamily property in New Britain, CT. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.
• A $1,147,500 first lien mortgage for the refinance of a 61-unit mobile home property in Punxsutawney, PA. This transaction was arranged by Marc Tropp and Judah Aderet.
• A $1,050,000 first lien mortgage for the refinance of a 6-unit multifamily property in Passaic, NJ. This transaction was arranged by Yossi Rubin.
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GCP Capital Group arranged mortgage financing in the aggregate amount of $31,250,000 for the following properties:
• $11,050,000 for a five-story mixed-use building containing 39 apartments and 4,840 square feet of commercial space, located on St. Nicholas Avenue in Manhattan. Adam Brostovski, managing member, arranged the financing for this transaction.
• $8,900,000 for a six-story mixed-use building containing 92 apartments and 5 retail units, located on Virginia Avenue in the Bronx. Paul Greenbaum, managing member, arranged the financing for this transaction.
• $6,300,000 for a two-story plus basement commercial retail building of 33,000 square feet containing three units, located on Jerome Avenue in the Bronx. David Sessa, managing director, arranged the financing for this transaction.
• $5,000,000 for a newly built, six-story residential condominium building containing 5 apartments and 2 commercial units, located on Grand Street in Manhattan. Matthew Albano, managing director, arranged the financing for this transaction.
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Dansker Capital Group at Marcus & Millichap announced the following transactions:
• A $5,000,000 refinance was arranged for a 7-story mixed-use building in the Turtle Bay neighborhood of Manhattan. The financing was arranged by Andrew Marcus and Andrew Dansker.
• A $3,750,000 refinance was arranged for a 34,385 SF mixed-use building in the Washington Heights neighborhood of Manhattan. The financing was arranged by Andrew Marcus and Andrew Dansker.
• A $1,463,000 refinance was arranged for a 6-unit multifamily building in Harlem. The financing was arranged by Andrew Marcus and Andrew Dansker.
• A $1,300,000 refinance was arranged for a 3,388 SF mixed-use building in Harlem. The financing was arranged by Andrew Marcus and Andrew Dansker.
• A $750,000 acquisition loan was arranged for two-mixed use buildings in Philadelphia, PA. The financing was arranged by Andy Weiss and Andrew Dansker.
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Meridian Capital announced the following transactions:
• A new mortgage of $14,275,000 was placed on a multifamily property totaling 93 units located on East Broadway in Long Beach, NY. The loan features a rate of 3.75% and a 10-year term. This transaction was negotiated by Michael Homapour and Ami Levin.
• A new mortgage in the amount of $4,850,000 on a 114-unit cooperative property located on Ocean Parkway in Brooklyn, NY. The loan features a rate of 3.88% and a 10-year term. Michael Farkovits and John Bianco negotiated this transaction.
• A new mortgage of $3,375,000 was placed on a multifamily property totaling 55 units located on Grand Avenue in the Bronx, NY. The loan features a rate of 3.80% and a seven-year term. This transaction was negotiated by Michael Kesselman and Kerry Brick.
• A new mortgage in the amount of $2,650,000 on a 21-unit multifamily property located on West 174thStreet in New York, NY. The loan features a rate of 3.69% and a five-year term. Morris Diamant and David Liechtung negotiated this transaction.
• A new mortgage of $2,400,000 was placed on a multifamily property totaling 42 units located on East 169th Street in the Bronx, NY. The loan features a rate of 3.80% and a seven-year term. This transaction was negotiated by Michael Kesselman and Kerry Brick.
• A new mortgage in the amount of $1,300,000 on a three-unit mixed-use property located on East 116thStreet in New York, NY. The loan features a rate of 3.85% and a 10-year term. David Oheb and Shimon Karasick negotiated this transaction.
