Meridian Capital announced the following transactions:
- A new mortgage of $55,000,000 was placed on a seven-story, 130-unit mixed-use property with 97,900 s/f of retail space located on Queens Boulevard in Flushing, NY. The loan features a rate of 2.69% and a three-year term. This transaction was negotiated by Cary E. Pollack and Justine Hughes.
- A new mortgage in the amount of $10,760,000 on a six-story, 58-unit mixed-use property with 1,055 square feet of retail space located on West Kingsbridge Road in the Bronx, NY. The loan features a rate of 3.00% and a five-year term. Moe Rosenblum negotiated this transaction.
- A new mortgage of $10,300,000 on a seven-story, 52-unit multifamily property located on Amsterdam Avenue in New York, NY. The loan features a rate of 3.13% and a 30-year term. This transaction was negotiated by Shamir Seidman and Daniel Neiss.
- A new mortgage in the amount of $7,860,00 on a six-story, 152-unit multifamily property located on East 21st Street in Brooklyn, NY. The loan features a rate of 3.05% and a five-year term. David Hayum and Jacob Fischer negotiated this transaction.
- A new mortgage of $7,500,000 on a five-story, 63-unit multifamily property located on East 188th Street in the Bronx, NY. The loan features a rate of 2.95% and a five-year term. This transaction was negotiated by Alan Friedman and Eric Chapek.
- A new mortgage in the amount of $2,700,000 on a six-story, 28-unit mixed-use property with 4,000 square feet of retail space located on Amsterdam Avenue in New York, NY. The loan features a rate of 3.00% and a five-year term. Moe Rosenblum negotiated this transaction.
Emerald Creek Capital provided loans totaling $13,055,000 for the following transactions:
- A $7,000,000 acquisition loan in Salina, KS, secured by a 477,000 SF regional mall built on 48 acres. Anchored by Dillards, JCPenney, Sears, and Ross, the subject property is over 90% occupied. The loan was originated by Jeff Seidler.
- A $1,600,000 bridge loan in the Murray Hill neighborhood of Manhattan, NY. Built on a 19 X 75 SF lot, the subject property is currently improved with a 5,165 s/f five-story mixed use building comprised of six residential studios and grade and 2nd floor retail spaces. The loan was originated by Mike Cleaver.
- A $1,735,000 loan in the Central Harlem neighborhood of Manhattan. The loan was secured by a recently completed multi-family building comprising of eight new studio and one-bedroom units totaling 5,200 s/f built on a 20 X 100 s/f lot. The loan was originated by Mike Cleaver.
- A $1,500,000 acquisition loan in the Greenpoint neighborhood of Brooklyn, NY. The loan is secured by a vacant 3,600 SF lot that will be redeveloped into a four-story mixed-use building with 10 residential apartments and ground floor retail space. The loan was originated by Mike Cleaver.
- A $1,022,000 acquisition loan in Chicago, IL. The loan is secured by 1,696 SF freestanding retail building on a 14,080 site that is net-leased to Starbucks. The loan was originated by Matt Fantuzzi.
GCP Capital Group LLC has arranged mortgage financing in the aggregate amount of $40,000,000 for the following properties:
- $25,000,000 for a four-story commercial building of 27,800 square feet containing 2 credit tenants, located on Third Avenue in Manhattan, New York. Matthew Classi, Managing Member, and Jack Fried, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
- $8,000,000 for three 4-story apartment buildings containing 8 apartments and 1 retail unit located on Withers Street in Brooklyn, New York. Matthew Albano, Senior Broker of GCP Capital Group, arranged the financing for this transaction.
- $5,000,000 for six attached, 6-story elevator cooperative apartment buildings containing a total of 207 apartments, located in Yonkers, New York. Adam Brostovski, principal of GCP Capital Group, arranged the financing for this transaction.
- $2,000,000 for a single-story commercial building comprised of approx. 55,100 square feet, located in Carle Place, Nassau County, New York. Matthew Classi arranged the financing for this transaction.
North East Community Bank (NECB) provided $19,535,500 in mortgage financing for the following transactions:
- First mortgage of $405,000 on a 3 story walkup mixed use building in East Flatbush Brooklyn.
- Financed $2,400,000 for a 6 story, 33 units and 2 retail mixed-use building on the Upper East Side of Manhattan.
- $650,000 first mortgage on a 3 story 6 unit residential building in the Bushwick section of Brooklyn.
- First mortgage of $575,000 on a 3 story walkup mixed-use building in the Corona section of Queens.
- $345,000 first mortgage on a 3 story 5 unit residential building in the Williamsbridge section of the Bronx.
- $600,000 refinance medical office building in the Norwood section of the Bronx.
- First mortgage of $675,000 on a 3 story walk-up multi-family building totaling 6 units in the South Bushwick/Ocean Hill section of Brooklyn.
- $4,535,000 first mortgage on senior housing facility in the Orange County section of New York.
- $1,500,000 refinanced on a 5 story residential walkup building in the East Village section of Manhattan.
- First mortgage of $250,000 on a 3 story mixed-use building in Brooklyn.
- $915,000 construction loan for a 3 story walkup building located in Bushwick section of Brooklyn,
- $675,000 first mortgage on a 3 story brick building located in the Fordham section of The Bronx.
- Construction loan in the amount of $450,000 on a single story retail/office building in the Kings County section of Manhattan.
- $640,000 first mortgage on a 4 story walkup building located in the East New York section of Brooklyn.
- $3,220,500 construction on 2 separate buildings with a total of 14 units located in Bed-Stuy section of Brooklyn,
- $500,000 renovation loan for a mixed-use 3 story building located in Kings County Brooklyn.
- First mortgage of $1,200,000 on 3 separate buildings totaling 14 units in Putnam County New York.
Pergolis Swartz Associates Inc. announced the following transaction:
- Barry Swartz obtained a B-Note in the amount of $1,600,000 for a 4 story building containing 3 apartments and 1 store on First Avenue in Manhattan.
- Len Solinsky arranged acquisition financing in the amount of $1,275,000 for a three family building on Clinton Street in Brooklyn.
- Barry Swartz closed a permanent loan in the amount of $2,020,000 for a five story building with 12 apartments and 1 store located on East 116th Street in Manhattan.
W Financial Fund, a Manhattan-based direct lender, has provided the following bridge loans:
- A $3,800,000 loan collateralized by a five-story, four-unit commercial property located on Bedford Avenue in the Williamsburg neighborhood of Brooklyn. The borrower originally closed on the property all-cash and used the W Financial loan to recapture a portion of their equity. The borrower is an experienced real estate owner and developer who plans to renovate the property and to then lease the units at market. Once fully stabilized the borrower intends to refinance the bridge loan with conventional financing.
- A $2,000,000 loan secured by a partially completed, four-story, six-unit, ground-up development located on Grand Street in the Williamsburg neighborhood of Brooklyn. The borrower will use the W Financial loan to recoup a portion of their equity. Once the building has been completed and the units have been rented, then the borrower, an experienced developer and owner of similar properties,  intends to refinance the bridge loan with a permanent mortgage provided by a local bank.
- A $750,000 loan for the acquisition of an ~4,800 square foot single-family home located on West Silver Palm Road within the Royal Palm Yacht & Country Club, a luxury gated community in Boca Raton, Florida. The developer needed to close quickly and intends to renovate the property and then plans to market and sell the property. It is anticipated that W Financial’s loan will be repaid upon the closing of the sale.
Walker & Dunlop, Inc. originated a $4,550,000 Fannie Mae loan for the refinance of Plumas Garden Apartments by a partnership affiliated with the Gaston & Wilkerson Management Group. The 10-year loan utilized Fannie Mae’s Early Rate Lock program in order to lock in the historically low interest rates and mitigate potential interest rate volatility. Brett McGuire, Bethesda-based vice president, led the Walker & Dunlop deal team that underwrote and closed the loan.
Eastern Union Funding announced the following transactions:
- A $9,100,000 first lien mortgage to refinance a 115 unit multifamily in Newark, NJ. This transaction was negotiated by Ira Zlotowitz and Michael Muller
- A $6,650,000 first lien mortgage to refinance a 48 unit multifamily on West 157th Street in New York, NY. This transaction was negotiated by Isaac Sternhill
- A $4,380,000 first lien mortgage to refinance a 16-unit multifamily on S. 3rd Street in Brooklyn, NY. This transaction was negotiated by David Metzger and Nate Hyman
- A $2,475,000 first lien mortgage for the acquisition of a 24 unit multifamily property on East 166th Street in Bronx, NY. This transaction was negotiated by Jonathan Singer
- A $2,275,000 first lien mortgage to refinance an 8 unit mixed-use on Bedford Avenue in Brooklyn, NY. This transaction was negotiated by Alex Freund.
