Meridian Capital announced the following transactions:
• $4 million in permanent financing to refinance a 5-property mixed-use portfolio in Boerum Hill, Brooklyn. The 10-year loans, provided by a balance sheet lender, feature fixed rates of 3.60% and 30-year amortization schedules. These transactions were negotiated by Jason Weber. The properties are located at 396, 398 and 400 Atlantic Avenue and at 379 and 379-A Pacific Street. The portfolio totals 12 residential units and three ground-floor retail spaces.
• A new mortgage of $4,100,000 was placed on a five-story, 21-unit multifamily property located on West 136th Street in New York, NY. The five-year loan features an initial rate of 2.625%. This transaction was negotiated by Shamir Seidman and Daniel Neiss.
• New mortgages totaling $22,925,000 on four multifamily properties comprised of 197 units located on West 177th, Academy, and Ellwood Streets in New York, NY and on Hawthorne Street in Brooklyn, NY. The loans feature rates of 3.00% and five-year terms. Avi Weinstock and Chaim Tessler negotiated these transactions.
• A new mortgage of $9,500,000 was placed on a six-story, 99-unit multifamily property located on East 18th Street in Brooklyn, NY. The loan features a rate of 3.125% and a six-year term. This transaction was negotiated by Charles Grussgott and Michael Helmreich.
• A new mortgage in the amount of $9,250,000 on a five-story, 16-unit multifamily property located on Broadway in New York, NY. The loan features a rate of 3.125% and a five-year term. Morris Diamant and Joseph Akerman negotiated this transaction.
• A new mortgage of $6,000,000 was placed on a six-story, 22-unit multifamily property located on East 10th Street in New York, NY. The loan features a rate of 2.875% and a three-year term. This transaction was negotiated by Morris Diamant and Joseph Akerman.
• A new mortgage in the amount of $2,500,000 on a five-story, 34-unit multifamily property located on East Seventh Street in Plainfield, NJ. The loan features a rate of 2.80% and a three-year term. David Cohen and Michael Salamon negotiated this transaction.
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GCP Capital Group has arranged mortgage financing in the aggregate amount of $68,425,000 for the following properties:
• $51,000,000 combined financing for a portfolio of five individual garden complex/multifamily rental properties containing a total of 363 apartments, located throughout Suffolk County. Matthew Albano, Senior Broker of GCP Capital Group, arranged the financing for this portfolio.
• $5,625,000 combined financing for 2 five-story multifamily apartment buildings containing a total of 45 apartments, located in the Flatbush and Prospect Park sections of Brooklyn. Michael Charnowitz, Senior Associate of GCP Capital Group, arranged the financing for these transactions.
• $5,500,000 for a three-story office building comprised of approx. 200,000 gross square feet, located in White Plains. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $3,300,000 combined financing for 2 two-story apartment buildings containing a total of 26 units, located in Bayshore, Suffolk County. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for these transactions.
• $3,000,000 for the construction of 4 four-story luxury condominium buildings containing a total of 28 units, located on 21st Street in Brooklyn. Matthew Albano, Senior Broker of GCP Capital Group, arranged the financing for this transaction.
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Eastern Union Funding announced the following transactions:
• A $5,400,000 first lien mortgage for the refinance of a 24-unit multifamily on Somers St. in Brooklyn, NY. This transaction was arranged by Nate Hyman and David Metzger.
• A $4,850,000 first lien mortgage for the refinance of a 240,191-sf retail property on Indiana Ave. in Saint Marys, OH. This transaction was arranged by Marc Tropp.
• A $3,331,000 first lien mortgage for the refinance of a 16-unit multifamily on Boerum St. in Brooklyn, NY. This transaction was arranged by Mendy Pfeifer.
• A $3,165,000 first lien mortgage for the refinance of a 62-unit multifamily on S Austin Blvd in Chicago, IL. This transaction was arranged by Jay Tyberg.
• A $1,835,000 first lien mortgage for the refinance of a 38-unit multifamily on S Austin Blvd in Chicago, IL. This transaction was arranged by Jay Tyberg.
• A $1,755,000 first lien mortgage for the refinance of a 4000-sf condo on Classon Ave. in Brooklyn, NY. This transaction was arranged by Isaac Sternhill.
• A $1,388,000 first lien mortgage for the acquisition of a 12-unit multifamily on Clay Ave. in Bronx, NY. This transaction was arranged by Michael Muller.
• A $1,300,000 first lien mortgage for the refinance of a 4-unit mixed-use on Bedford Ave. in Brooklyn, NY. This transaction was arranged by Joseph Schachnow.
• A $900,000 first lien mortgage for the acquisition of a 6-unit multifamily on Etna St. in Brooklyn, NY. This transaction was arranged by Jake Handelsman.
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