TRANSACTIONS: GCP cuts $13.3M loan in Washington Heights

Meridian Capital announced the following transactions:

Two new mortgages in the amount of $15,400,000 on two 117-unit multifamily properties located on Walton Avenue and East Kingsbridge Road in the Bronx, NY. The loans feature rates of 3.875% and five-year terms. Avi Weinstock and Chaim Tessler negotiated these transactions.
A new mortgage of $7,500,000 was placed on a multifamily property totaling 76 units located on Lefferts Boulevard in Kew Gardens, NY. The loan features a rate of 3.875% and a five-year term. Joseph Taub and Eric Chapek negotiated this transaction.
A new mortgage in the amount of $5,100,000 on a 67-unit multifamily property located on North Arlington Avenue in East Orange, NJ. The loan features a rate of 3.875% and a five-year term. Morris Diamant and Tzvi Krieger negotiated this transaction.
A new mortgage of $3,300,000 was placed on a multifamily property totaling eight units located on East Broadway in Long Beach, NY. The loan features a rate of 3.625% and a five-year term. This transaction was negotiated by David Hayum and Luke Hingson.
A new mortgage in the amount of $800,000 on a six-unit multifamily property located on Fulton Avenue in Jersey City, NJ. The loan features a rate of 3.5% and a five-year term. Chaim Tessler negotiated this transaction.
A new mortgage of $500,000 was placed on a multifamily property totaling four units located on Sixth Avenue in Brooklyn, NY. The loan features a rate of 3.625% and a five-year term. This transaction was negotiated by Benjamin Klugmann.

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Emerald Creek Capital announced the following transactions:

A $6,000,000 bridge loan in Southampton, NY. The loan is secured by a beach-adjacent estate with 12,173 s/f of gross living area situated on three acres of gated property. Financing was originated by Mark Bahiri.
A $2,700,000 acquisition loan in the Fresh Meadows neighborhood of Queens, NY. The loan is secured by five single-family townhouses with a total site area of 9,000 s/f. Financing was originated by Matt Fantuzzi.
A $2,450,000 acquisition loan in Bay Shore, NY, on the south shore of Long Island. The loan is secured by a multi-tenant retail center situated on a 1.97-acre site with 14,950 s/f of leasable area. Financing was originated by Matt Fantuzzi.

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Eastern Union Funding announced the following transactions:

A $8,000,000 first lien mortgage for the refinance of a 27-unit mixed-use on W 171st St in New York, NY. This transaction was arranged by Michael Muller and Jack Beida.
A $3,520,000 first lien mortgage for the refinance of a 19-unit mixed-use on E 98th St in Brooklyn, NY. This transaction was arranged by Isaac Weiss.
A $3,200,000 first lien mortgage for the acquisition of a 65-unit multifamily on Argonne Dr in Baltimore, MD. This transaction was arranged by Ben Alpert and Marc Tropp.
A $3,100,000 first lien mortgage for the refinance of a 8-unit multifamily on Schenectady Ave in Brooklyn, NY. This transaction was arranged by Meir Kessner and David Eisen.
A $1,718,000 first lien mortgage for the refinance of a 6-unit multifamily on Kosciuszko St in Brooklyn, NY. This transaction was arranged by Alex Freund.
A $1,440,000 first lien mortgage for the acquisition of a 47-unit multifamily on N Marshall Rd in Dayton, OH. This transaction was arranged by Nate Hyman and David Metzger.
A $1,340,000 first lien mortgage for the refinance of a 6-unit mixed-use on Rutland Rd in Brooklyn, NY. This transaction was arranged by Isaac Weiss, Mendy Pfeifer and Motti Blau.

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GCP Capital Group arranged mortgage financing in the aggregate amount of $42,800,000 for the following properties:

$13,300,000 for a six-story mixed-use building containing 48 apartments and 5,500 square feet of commercial space, located in the Washington Heights section of Manhattan. Alan Perlmutter arranged the financing.
$12,500,000 for two five-story multifamily apartment buildings containing a total of 92 units, located on Morris Avenue in the Bronx. Adam Brostovski arranged the financing.
$9,000,000 for a six-story multifamily apartment building containing 69 units, located on Selwyn Avenue in the Bronx. Paul Greenbaum arranged the financing for this transaction.
$8,000,000 for two adjacent four-story multifamily apartment buildings containing a total of 32 units, located on Ocean Parkway in Brooklyn. Matthew Albano arranged the financing for this transaction.

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Hirshmark Capital announced the following transactions:
Through an affiliate entity, Hirshmark funded a $1,200,000 bridge loan secured by a multifamily building in Flatbush, Brooklyn. The property is a 9,000 s/f building with eight units, five of which are vacant. The borrower needed capital to renovate the property.
The funding of a $3,850,000 bridge loan secured by a mixed-use building in Manhattan’s Chinatown . The property is a 8,250 s/f building with six residential units and a commercial space. The borrower needed capital to refinance the property. This transaction was negotiated by Jake Soodek.

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Leviathan Capital announce the refinance of a co-living multifamily building located in Brooklyn, NY. The 70% LTV deal featured a 7-year fixed rate of 4.01% and was full term interest-only. In addition, there was no origination fee or prepayment penalty.

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Robert Ranieri, senior vice president of NorthMarq Capital’s Westchester regional office, arranged refinancing of $700,000 for Lincolndale Plaza, a 5,377 s/f retail property located in Somers, New York. The transaction was structured with a 10-year term with (5-year rate resets) on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank. The borrower purchased the property in 2016 and was looking to take some money out for additional improvements. Flushing Bank provided a cash-out.

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StackSource closed a $3.2 million SBA loan from Wells Fargo for the acquisition of an industrial facility in Vernon, CA. The sponsor is a shared-space coffee roasting business, now with three locations, including Brooklyn and Oakland

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Titan Capital announced the following loans:

A $10,500,000 construction loan in Crown Heights, Brooklyn. The loan is secured by a to-be completed seven-story building that will contain thirty-nine residential condominium units. Financing was originated by David Saferstein and Jeremy Levart.
A $7,500,000 construction loan in Crown Heights. The loan is secured by a to-be completed six-story building that will contain twenty-six residential condominium units. Financing was originated by David Saferstein and Jeremy Levart.
A $1,100,000 loan in Bay Ridge, Brooklyn,. The loan is secured by two waterfront condominium units. Financing was originated by Ira Saferstein and Matthew Job.
A $2,500,000 loan in Stamford, CT. The loan is secured by two large industrial buildings. Financing was originated by Ira Saferstein and Zachary Waldman.
A $2,200,000 construction loan for a luxury single-family home located in Southampton, NY. To secure a low rate, maximum proceeds and a quick close, the developer pledged a recently-built waterfront-home as additional collateral for the loan. Financing was originated by David Saferstein and Jeremy Levart.

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Victory Capital has arranged financing totaling over $15 million for five properties in Manhattan, Brooklyn, and Queens:

Michael Bivona negotiated a $5 million construction loan with a rate of 6.75% that will be used to renovate a 24-unit, five-story walk-up on East 77th Street between 1st and 2nd Avenues on the Upper East Side. This transaction was arranged with a regional bank in less than 30 days.
A $3.8 million loan with a five-year term at 3.73% with a national lender to refinance a five-story, ten-unit walk-up building on the Upper East Side. The property is two blocks north of 6 train and three blocks south of Mount Sinai.
A $3 million permanent loan for a construction project for a partially vacant 7,800 s/f mixed-use property in Midtown East. The five-year loan at 5% was negotiated with a regional bank.
A $2.2 million, five-year acquisition loan with a rate of 4.5% from a regional lender. The building with 14 residential units and one vacant commercial space is located in Astoria, Queens.
A $1.18 million loan to refinance a two-story, mixed-use property in Williamsburg, Brooklyn that is comprised of one retail unit on the ground floor and two apartments on the second and third floors. The five-year loan with a rate of 5% was negotiated with a local credit union.

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G.S. Wilcox & Co. secured $7.2 million in financing for a 76,192 s/f office building in Bloomfield, NJ. The financing was arranged by Gretchen Wilcox, David Fryer and Wesley Wilcox and secured with a 10-year term and 25-year amortization through Securian Financial, a correspondent insurance company lender of the firm. The seven-story structure is located within the Central Business District with access to the Garden State Parkway and Bloomfield Train Station.