Arbor Realty Trust funded a Freddie Mac SBL deal in Newark, New Jersey. 21-25 Willoughby Street, an 18-unit multifamily property, received $1.5 million in funding through the program with a 10-year fixed rate and three years interest only on a 30-year amortization schedule. Geoffrey Platt of Arbor’s New York City office originated the loan. Originally constructed in 1920 and renovated in 2018, 21-25 Willoughby Street offers one-bedroom apartments.
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CV Capital Funding announced the closing of a $15,500,000 first mortgage refinance loan on a portfolio of 9 properties, containing industrial, multifamily, land and mixed use in Whitestone, Maspeth and Astoria, New York. The deal was arranged by Anthony Iervolino.
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Eastern Union Funding announced the following transactions:
• A $1,355,000 first lien mortgage for the refinance of a multifamily property in Jersey City, NJ. This transaction was arranged by Jeffrey Seidenfeld and Tiffany Weiss.
• A $2,000,000 first lien mortgage for the refinance of a 6-unit multifamily on Clifton Pl in Brooklyn, NY. This transaction was arranged by Moshe Lipschitz.
• A $2,450,000 first lien mortgage for the refinance of a 9-unit multifamily property on E 187th St in Bronx, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.
• An $18,750,000 first lien mortgage for the refinance of a 37-unit multifamily on E 19th St in Brooklyn, NY. This transaction was arranged by Abe Kolman.
• A $6,910,000 first lien mortgage for the acquisition of land in Lakewood, NJ. This transaction was arranged by David Metzger.
• A $15,295,000 first lien mortgage for the acquisition of a 261-unit multifamily on Fairmount Ave in Atlantic City, NJ. This transaction was arranged by David Metzger.
• A $6,000,000 first lien mortgage for the acquisition of an industrial property in Columbus, OH. This transaction was arranged by Marc Tropp and David Merkin.
• A $12,800,000 first lien mortgage for the refinance of a shopping center in Richmond, VA. This transaction was arranged by David Metzger.
• A $4,340,000 first lien mortgage for the refinance of a multifamily property on Nostrand Ave in Brooklyn, NY. This transaction was arranged by Michael Muller and Moshe Lipschitz.
• A $1,950,000 first lien mortgage for the refinance of a 10-unit multifamily in Brooklyn, NY. This transaction was arranged by Alex Freund.
• A $3,700,000 first lien mortgage for the refinance of a 17-unit mixed-use on 2nd Ave in New York, NY. This transaction was arranged by Michael Muller and Jack Beida.
• A $14,000,000 first lien mortgage for the acquisition of an industrial property in Burlington, NJ. This transaction was arranged by Michael Muller.
• A $2,478,000 first lien mortgage for the acquisition of a 50-unit multifamily in Baltimore, MD. This transaction was arranged by Marc Tropp and David Merkin.
A $2,600,000 first lien mortgage for the acquisition of a 4-unit multifamily on E 51st St in Brooklyn, NY. This transaction was arranged by Isaac Weiss.
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GCP Capital Group has arranged mortgage financing in the aggregate amount of $41,125,000 for the following properties:
• $18,300,000 combined financing for a package of five six-story multifamily apartment buildings containing a total of 191 units and 2,850 square feet of commercial space, located in the Fort George and Washington Heights neighborhoods of Manhattan. Adam Brostovski, principal, arranged the financing for these transactions.
• $9,600,000 for a six-story multifamily apartment building containing 25 residential units and 4 commercial units, located on the Upper East Side of Manhattan. Alan Perlmutter, managing member, arranged the financing.
• $9,500,000 for a six-story multifamily apartment building containing 43 units and 6,200 square feet of commercial space, located on West 176th Street in Manhattan, New York. Paul Greenbaum, managing member, arranged the financing.
• $3,725,000 combined financing for two five-story multifamily apartment buildings containing a total of 32 units, located on University Avenue in the Bronx. David Sessa, managing director of GCP Capital Group, arranged the financing for these transactions.
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Houlihan-Parnes Properties announced the following transactions:
• Michael Cuniberti, Jeremiah A. Houlihan and James Coleman arranged mortgage financing totaling $3,500,000 on three retail properties in the Bronx, 134 West Fordham Road, 1735 University Avenue and 26 West Kingsbridge Road and one in Yonkers, NY on 575-585 Central Park Avenue. The properties are all multi-tenanted, single-story retail buildings in thriving urban locations. The separate refinancings were placed with a Long Island-based bank for 5-year terms at 4.625% interest and 30-yr amortization schedules. The loans were done at par and have sliding scale prepayment penalties and include 5-year options to extend. The borrower was represented by Christie L. Houlihan, Esq. and title provided by First American Title.
* Jerry Houlihan arranged the placement of 1st Mortgage bridge loans for the following properties in Connecticut: $200,000 1st mortgage on a 2-family house in Norwalk, CT; $300,000 Blanket 2nd Mortgage on a 2-family house and an 8-family house in Stamford. Both loans were for 12-24 months and were closed within days of a clean title report.
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Meridian Capital announced the following transactions:
• A new mortgage of $8,000,000 w on a multifamily property totaling 85 units located on Olinville Avenue in the Bronx, NY. The loan features a rate of 3.88% and a five-year term. This transaction was negotiated by Jeff Weinberg.
• A new mortgage in the amount of $5,000,000 on a 73-unit multifamily property located on Ocean Avenue in Brooklyn, NY. The loan features a rate of 3.93% and a 10-year term. Allan Lieberman negotiated this transaction.
• A new mortgage of $3,400,000 on a cooperative property totaling 104 units located on Riverside Drive in New York, NY. The loan features a rate of 3.85% and a 10-year term. This transaction was negotiated by Avi Geller and Nicoletta M. Pagnotta.
• A new mortgage in the amount of $3,000,000 on a 23-unit multifamily property located on East 58th Street in New York, NY. The loan features a rate of 3.91% and a 10-year term. David Ostrov negotiated this transaction.
• A new mortgage of $3,000,000 was originated on a multifamily property totaling 110 units on 88th Avenue in Queens. The loan features a rate of 3.93% and a 10-year term. This transaction was negotiated by Josh Rhine.
• A new mortgage in the amount of $1,800,000 on a 98-unit cooperative property located on Ocean Parkway in Brooklyn, NY. The loan features a rate of 3.93% and a 10-year term. Jacob Schmuckler negotiated this transaction.
