TRANSACTIONS: Eastern Union Funding announces $62.85M first-lien mortgage

Eastern Union Funding has announced the following transactions:

• A $62,850,000 first lien mortgage for the refinance of a 70-unit multifamily property in New York, NY. This transaction was arranged by David Eisen and Chaim Greenfeld.

• A $12,800,000 first lien mortgage for the refinance of a 112-unit mixed-use property in Bronx, NY. This transaction was arranged by Ira Zlotowitz, Abraham Bergman and Michael Muller.

• A $10,800,000 first lien mortgage for the acquisition of a single unit industrial property in Lebanon,NJ. This transaction was arranged by Abraham Bergman.

• A $5,674,000 first lien mortgage for the refinance of a 56-unit multifamily property in Bronx, NY. This transaction was arranged by Ira Zlotowitz, Abraham Bergman and Michael Muller.

• A $2,325,000 first lien mortgage for the refinance of a 8-unit multifamily property in Brooklyn, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.

• A $2,200,000 first lien mortgage for the acquisition of a 177-unit mobile home property in East Grand Forks, MN. This transaction was arranged by Marc Tropp and Judah Aderet.

• A $2,135,000 first lien mortgage for the refinance of a 6-unit multifamily property in Brooklyn, NY. This transaction was arranged by Motti Blau and Mendy Pfeifer.

• A $2,055,000 first lien mortgage for the refinance of a 6-unit multifamily property o in Brooklyn, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.

• A $1,762,500 first lien mortgage for the refinance of a 6-unit multifamily property in Brooklyn, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.

• A $1,600,000 first lien mortgage for the refinance of a single unit shopping center in Fredericksburg, VA. This transaction was arranged by Marc Tropp and Ben Alpert.

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GCP Capital Group LLC has arranged and announced the following mortgage transactions:

• A $37,650,000 mortgage for an 11-story plus penthouse multifamily apartment building containing 159 units, located in the Crown Heights section of Brooklyn, New York. Adam Brostovski, Managing Member of GCP Capital Group, arranged the financing for this transaction. 

• A $15,825,000 for a six-story mixed-use building containing 59 apartments and 7,000 square feet of commercial space, located in the Upper East Side of Manhattan, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.

• A $10,500,000 for a six-story mixed-use building containing 56 units and approx. 4,500 square feet of commercial space, located in the Washington Heights section of Manhattan, New York. Stephen Katz, Managing Director of GCP Capital Group, arranged the financing for this transaction. 

• A $6,500,000 for a four-story mixed-use building containing 6 apartments and approx. 14,750 square feet of commercial space, located on West 139^th Street in Manhattan, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction. 

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Hirshmark Capital, through an affiliate entity, is proud to announce the following bridge loan:

• A funding of a $1,500,000 bridge loan secured by a development site in the Williamsburg neighborhood of Brooklyn. The subject property has 6,750 BSF and is two blocks from the L-train as well as Apple, Equinox, Chase Bank, etc. The borrower needed financing for other business purposes. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner. This transaction was negotiated by Hirshmark’s Michael Fey.

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W Financial has provided the following bridge loans which were handled by Jarret Schochet, David Heiden, Andrew Singer, and TJ Randall:

• A $1,300,000 bridge loan for the acquisition of a cash-flowing multi-family property located on Main Street in Kansas City, Missouri. The borrower plans to renovate apartments as the leases come due and to increase rents thereafter. W Financial expects to be repaid when the borrower obtains a conventional loan once the property is stabilized.

• A $2,200,000 first mortgage loan secured by a development site located on Louisville Road in Savannah, Georgia. The total loan amount was $4,700,000 and there was a $2,500,000 mezzanine loan placed subordinate to our first mortgage. The borrower intends to finish his construction plans and then refinance W’s bridge loan with a traditional construction loan.

• A $3,600,000 bridge loan secured by three walk-up properties located in Brooklyn. Our collateral includes a four-story, mixed-use building on Lafayette Avenue in Fort Greene, a three-story multifamily building on Schenectady Avenue in Crown Heights, and a four-story mixed-use building located on Pitkin Avenue in Brownsville. The borrower is a long-time, repeat client of W Financial and needed to refinance existing loans that were maturing. The borrower plans to refinance W Financial with a conventional loan.

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Meridian Capital announced the following transactions:

• A new mortgage of $12,500,000 was placed by Meridian on a cooperative property totaling 350 units located on Bennett Avenue in New York, NY. The loan features a rate of 2.80% and a 10-year term. This transaction was negotiated by Steve Geller and Nicoletta M. Pagnotta.

• A new mortgage in the amount of $9,400,000 on a 58-unit cooperative property located on Gracie Square in New York, NY. The loan features a rate of 3.15% and a 10-year term. Steve Geller and Nicoletta M. Pagnotta, negotiated this transaction.

• A new mortgage of $4,700,000 was placed by Meridian on a multifamily property totaling 14 units located on 18th Street in Astoria, NY. The loan features a rate of 3.34% and a seven-year term. This transaction was negotiated by David Steinmetz and Joseph Akerman.

• A new mortgage in the amount of $4,500,000 on a 92-unit cooperative property located on East 73rd Street in New York, NY. The loan features a rate of 3.23% and a 10-year term. Steve Geller and Avi Geller negotiated this transaction.

• A new mortgage of $1,700,000 was placed on a multifamily property totaling 27 units located on Decatur Avenue in the Bronx, NY. The loan features a rate of 3.30% and a seven-year term. This transaction was negotiated by Simon Rosenfeld and Craig Berger.

• A new mortgage in the amount of $1,325,000 on a 16-unit multifamily property located on Third Avenue in New York, NY. The loan features a rate of 3.25% and a five-year term. Sam Shifer and Israel Leiner negotiated this transaction.

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Uber Capital Group has announced the following transactions:

• A $7,900,000 refinancing loan for a shopping center located in Marietta, Georgia.  Jonathan Livi, Debt & Equity Oginator at UGC, represented the borrower, a private real estate investor based in Georgia; and Nathan Kashizadeh, also a Debt & Equity Originator at UCG, represented the lender, a CMBS financing provider based in California.