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Deals & Dealmakers

TRANSACTIONS: Eastern Union Funding announces $16,512,000 first lien mortgage on 144-unit multifamily property

Eastern Union Funding has announced the following transactions:

A $16,512,000 first lien mortgage for the refinance of a 144-unit multifamily property in Cincinnati, OH. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.

A $10,000,000 first lien mortgage for the refinance of a 45-unit mixed-use property in Bronx. This transaction was arranged by Abraham Bergman, Ira Zlotowitz and Michael Muller.

A $5,110,000 first lien mortgage for the refinance of a 57-unit multifamily property in Bronx. This transaction was arranged by Abraham Bergman, Ira Zlotowitz and Michael Muller.

A $4,350,000 first lien mortgage for the refinance of a 46-unit mixed-use property Bronx. This transaction was arranged by Michael Muller.

A $2,100,000 first lien mortgage for the refinance of a 6-unit multifamily property in Brooklyn. This transaction was arranged by David Eisen.

A $2,000 000 first lien mortgage for the refinance of a 10-unit mixed-use property Brooklyn. This transaction was arranged by Michael Muller.

A $1,645 000 first lien mortgage for the refinance of a 3-unit multifamily property in Brooklyn. This transaction was arranged by Motti Blau and Mendy Pfeifer.

A $1,610,000 first lien mortgage for the refinance of a 3-unit multifamily property in Ridgewood. This transaction was arranged by Motti Blau and Mendy Pfeifer.

A $1,610,000 first lien mortgage for the refinance of a 3-unit multifamily property Ridgewood, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.

A $1,500 000 first lien mortgage for the acquisition of a single tenant property on in Cape Coral; FL. This transaction was arranged by David Metzger, Moshe Feiner, Bernie Fried and Becky Freidler.

A $1,345,000 first lien mortgage for the refinance of a 4-unit multifamily property in Brooklyn. This transaction was arranged by Mendy Pfeifer and Motti Blau.

A $1,150 000 first lien mortgage for the refinance of a land property on Bronx, NY. This transaction was arranged by David Eisen.

A $1,052 351 first lien mortgage for the refinance of a 12-unit multifamily property in Brooklyn. This transaction was arranged by Michael Muller.

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Jeremiah A Houlihan of Houlihan Parnes Properties (HPP) has announce the placement of a first mortgage loan in the amount of $650,000 on a three-story apartment building containing six apartments located in South Norwalk, CT.

The loan was placed through HPP’s private lending program and has a two-year term allowing the owner to reposition the asset and refinance with a conventional lender within that time period.

Additionally, Jeremiah A Houlihan and James K. Coleman of Houlihan-Parnes Properties have arranged acquisition first mortgage financing in the amount of $4,650,000 for a five-story brick apartment building containing 36 apartments and 4 ground floor stores in White Plains, NY.

The financing was accomplished as part of the sale of the building to a local investor group. This was the first sale of the property in 40 years.

The property is located at 82 Bank Street at the south east corner of Fisher Avenue directly across from the White Plains post office. The property in under a HUD contract and the new owners plan to continue with this program and work to make further upgrades to the property.

The loan was placed with a local Savings Bank for a 7-year term at a 4.4 percent interest rate with an 18-month interest only component followed by a 30-year amortization schedule. The lender charged no commitment fee and the loan has a sliding scale prepayment penalty.

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Meridian has announced the following transactions:

A new mortgage of $7,150,000 was placed on a cooperative property totaling 128 units located on Midland Avenue in Yonkers, NY. The loan features a rate of 3.30 percent and a 10-year term. This transaction was negotiated by Steve Geller and Avi Geller.

Meridian placed a new mortgage in the amount of $5,600,000 on a 10-unit multifamily property located on Wyckoff Street in Brooklyn. The loan features a rate of 3.63 percent and a five-year term. Judah Hammer and Joel Chetner negotiated this transaction.

A new mortgage of $3,850,000 was placed on a multifamily property totaling 30 units located on Grand Concourse in the Bronx. The loan features a rate of 3.50 percent and a five-year term. This transaction was negotiated by David Bollag.

Meridian placed a new mortgage in the amount of $3,375,000 on a 25-unit multifamily property located on Morris Avenue in the Bronx, NY. The loan features a rate of 3.51 percent and a seven-year term. Simon Rosenfeld and Craig Berger negotiated this transaction.

A new mortgage of $2,600,000 was placed on a cooperative property totaling 94 units located on Lefferts Boulevard in Kew Gardens, NY. The loan features a rate of 3.50 percent and a 10-year term. This transaction was negotiated by Avi Geller and Nicoletta M. Pagnotta.

Meridian placed a new mortgage in the amount of $1,200,000 on a 12-unit cooperative property located on West 26th Street in New York, NY. The loan features a rate of 3.50 percent and a 10-year term. Avi Geller negotiated this transaction.

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