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Deals & Dealmakers

TRANSACTIONS: GCP arranges $27.5M NJ loan, Eastern refinances 33 NJ properties

GCP Capital Group arranged mortgage financing in the aggregate amount of $65,300,000 for the following properties:

  • $27,500,000 for two four-story and two three-story loft-style buildings containing a total of 229 apartments and 3 commercial units, located in Paterson, New Jersey. Adam Brostovski, principal, arranged the financing.
  • $24,900,000 for a five-building apartment complex containing a total of 254 units, located in Spring Valley, New York. Paul Greenbaum, managing member, arranged the financing for this transaction.
  • $11,250,000 for a six-story multifamily apartment building containing 83 units, located on Ocean Avenue in Brooklyn. Matthew Albano, managing director, arranged the financing for this transaction. • $1,650,000 for a three-story mixed-use building containing six apartments and one commercial unit, located on Grand Street in Brooklyn. Michael Charnowitz, managing director, arranged the financing.

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Meridian Capital announced the following transactions:

  • A new mortgage of $4,200,000 on an office property located on West 37th Street in New York. The loan features a rate of 4.25% and a five-year term. This transaction was negotiated by Mark Brachfeld and Joseph Ackerman.
  • A new mortgage in the amount of $3,975,000 on a 137-unit cooperative property located on West 108th Street in New York, NY. The loan features a rate of 4.15% and a 10-year term. Avi Geller and Nicoletta Pagnotta negotiated this transaction.
  • A new mortgage of $2,500,000 on a multifamily property totaling 16 units located on Washington Avenue in Brooklyn, NY. The loan features a rate of 4.125% and a five-year term. This transaction was negotiated by Shamir Seidman and Daniel Neiss.
  • A new mortgage in the amount of $1,500,000 on an eight-unit multifamily property located on West 78th Street in New York, NY. The loan features a rate of 4.125% and a five-year term. Judah Hammer and Jason Bogopulsky negotiated this transaction.
  • A new mortgage of $1,000,000 on a multifamily property totaling 12 units located on Hancock Street in Brooklyn, NY. The loan features a rate of 4.125% and a five-year term. This transaction was negotiated by Morris Diamant and Tzvi Krieger.
  • A new mortgage in the amount of $625,000 on a six-unit multifamily property located on Nostrand Avenue in Brooklyn, NY. The loan features a rate of 4.125% and a five-year term. Morris Diamant and Tzvi Krieger negotiated this transaction.

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Brick Capital Partners announced the following transactions:

  • A first mortgage of $5,000,000 to a private real estate investor. Located in Bushwick, Brooklyn, the collateral is comprised of a 14,000 s/f commercial building undergoing a gut renovation. The loan proceeds were utilized to pay off an open mortgage and fund the balance of the proceeds required to finish the conversion. The interest only loan is for a two-year term. George Niblock arranged the financing.
  • A first mortgage of $800,000 for a three-story walk-up apartment building in Sunset Park, Brooklyn, that contains six apartments. The loan proceeds were utilized to refinance an existing mortgage and to fund building-wide renovations. The interest-only loan is for a one year term. Anthony Lekanides arranged the financing.
  • A first mortgage of $8,750,000 for the acquisition of a Queens commercial building. Located in Bayside, the three-story building consists of ground floor retail and office tenants and underground parking. The interest-only loan is for a 2-year term and was closed within eight days of application in order the meet the borrower’s closing obligations. Anthony Lekanides arranged the financing.

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Eastern Union Funding announced the following transactions:

  • A $10,443,000 first lien mortgage for the refinance of a SFR portfolio comprising 33 properties in Jersey City and Newark, NJ. This transaction was arranged by Meir Kessner.
  • A $9,150,000 first lien mortgage for the acquisition of a 45,452-square-foot retail property on Broad St in Elizabeth, NJ. This transaction was arranged by David Metzger.
  • A $5,400,000 first lien mortgage for the refinance of a 16-unit multifamily on President St in Brooklyn, NY. This transaction was arranged by Ira Zlotowitz and Michael Muller.
  • A $4,000,000 first lien mortgage for the refinance of a 9-unit multifamily on 5th Ave in New York, NY. This transaction was arranged by Jonathan Singer.
  • A $3,465,000 first lien mortgage for the acquisition of a 22-unit multifamily on Virginia St, Orchard St in Elizabeth, NJ. This transaction was arranged by Meir Kessner.
  • A $3,000,000 first lien mortgage for the refinance of a 7-unit multifamily on Dekalb Ave in Brooklyn, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.
  • A $2,500,000 first lien mortgage for the refinance of a 15,000-square-foot retail property on Grand Concourse in Bronx, NY. This transaction was arranged by Michael Muller.
  • A $1,950,000 first lien mortgage for the refinance of a multifamily portfolio in Long Beach, NY. This transaction was arranged by Ben Alpert and Marc Tropp.
  • A $1,500,000 first lien mortgage for the refinance of a 4-unit multifamily on Swann St NW in Washington, DC. This transaction was arranged by Marc Tropp.
  • A $1,180,000 first lien mortgage for the acquisition of a 4,607-square-foot a retail center on Rt-17M in Monroe, NY. This transaction was arranged by Motti Blau and Mendy Pfeifer.
    Marcus & Millichap Capital Cooperation announced the following transaction:
  • A $5,100,000 refinance was arranged for a 67,640 SF office space in Fort Wayne, Indiana. The financing was arranged by Andrew Dansker.

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