TRANSACTIONS: Hirshmark Capital loans secured by multifamily, industrial assets

Meridian Capital announced the following transactions:
• A new mortgage of $14,400,000 was placed on a 99-unit senior living community located on Overlook Drive in Monroe Township, NJ. The loan features a rate of 2.875% and a three-year term. This transaction was negotiated by David Cohen and Michael Salamon.
• New mortgages totaling $15,200,000 on two multifamily properties comprised of 86 units located on 30th Street and India Street in Brooklyn, NY. The loans feature rates of 2.95% and five-year terms. Judah Hammer and Daniel Neiss negotiated these transactions.
• A new mortgage of $9,500,000 was placed by Meridian on a six-story, 49-unit multifamily property located on 84th Drive in Queens, NY. The loan features a rate of 3.375% and a seven-year term. This transaction was negotiated by Joe Taub and Eric Chapek.
• A new mortgage in the amount of $4,425,000 on a three-story, 10-unit multifamily property located on Winthrop Street in Brooklyn, NY. The loan features a rate of 3.25% and a five-year term. Isaac Filler and Michael Helmreich negotiated this transaction.
• A new mortgage of $3,800,000 was placed on a 44-unit multifamily property located on Second Avenue in Bradley Beach, NJ. The loan features a rate of 3.125% and a five-year term. This transaction was negotiated by Elliott Birnbaum and Kerry Brick.
• A new mortgage in the amount of $1,175,000 on a 12-unit multifamily property located on Harrison Street in Passaic, NJ. The loan features a rate of 3.25% and a five-year term. Zev Feder and Adam Ehrenreich negotiated this transaction.
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Hirshmark Capital LLC, through an affiliate entity, closed the following recent transactions:
• A $4,000,000 bridge loan secured by five properties throughout Manhattan and Brooklyn. The subject properties are in Central Harlem, Williamsburg, and Bushwick, and contain 54 residential units and 5 commercial units spread across a total of 42,000 s/f. The property owner, a repeat Hirshmark Capital borrower, needed capital to refinance a maturing loan. Hirshmark Capital’s Igor Vaysberg negotiated this transaction.
• A $1,000,000 bridge loan secured by an industrial building in the Bedford Stuyvesant neighborhood of Brooklyn. The subject property is a 20,000 s/f, 4-story brick building. The property is surrounded by other industrial/commercial warehouses in the vicinity of the Brooklyn Navy Yard. The borrower needed capital to quickly fund a separate real estate purchase. Hirshmark Capital’s Mark Levin negotiated this transaction.
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GCP Capital Group LLC arranged mortgage financing in the aggregate amount of $56,400,000 for the following properties:
• $25,000,000 for 3 six-story multifamily apartment buildings containing a total of 205 units, located in Rego Park, Queens, New York. Alan Perlmutter, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $15,000,000 for a fully leased, 8,122 square foot two-level retail condominium situated on the ground floor and lower level of a recently completed 57-unit luxury condominium building, located on Second Avenue in Manhattan, New York. David Sessa, Senior Associate of GCP Capital Group, arranged the financing.
• $9,000,000 for a six-story mixed-use building containing 15 apartments and 2,400 square feet of commercial space, located on Orchard Street in Manhattan, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $5,500,000 for an 8-story multifamily apartment building containing 41 units and 2 commercial units, located on East 35th Street in Manhattan, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $1,900,000 for a one-story, retail building comprised of 4,800 square feet, located on Nagle Avenue in Manhattan, New York. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
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Eastern Union’s Motti Blau and Uri Shoshana arranged over $22,000,000 in acquisition financing for the purchase of 423 units across 10 Hartford County, Conn., multifamily properties, which included 239 fractured condos. Other transactions this week included:
• A $5,850,000 first lien mortgage for the refinance of a 30-unit multifamily on Westminster Rd. in Brooklyn, NY. This transaction was arranged by David Metzger and Nate Hyman.
• A $5,800,000 first lien mortgage for the acquisition of a 25-unit mixed-use portfolio in Jersey City. This transaction was arranged by Ira Zlotowitz and Michael Muller.
• A $2,400,000 first lien mortgage for the refinance of a 5-unit multifamily on Jane St. in New York, NY. This transaction was arranged by Michael Muller.
• A $2,120,000 first lien mortgage for the acquisition of a 6-unit multifamily on Cypress Ave. in Ridgewood, NY. This transaction was arranged by Motti Blau and Mendy Pfeifer.
• A $1,300,000 first lien mortgage for the refinance of a 12-unit multifamily on Poplar Ave. in Deal, NJ. This transaction was arranged by Nate Hyman and David Metzger.
• Marc Tropp arranged a $1,100,000 first lien mortgage for the refinance of a 6-unit retail center on Reading Rd. in Cincinnati, OH.
• David Metzger and Nate Hyman arranged a $1,020,000 first lien mortgage for the refinance of a 7-unit multifamily on Nichols Ave. in Brooklyn, NY.
• A $1,000,000 first lien mortgage for the refinance of a 6-unit mixed-use on Myrtle Ave. in Ridgewood, NY. This transaction was arranged by Nate Hyman and David Metzger.
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Eastern Consolidated’s Capital Advisory Division has arranged financing for four properties totaling $8.25 million. The properties included:
• 135 St. James Place and 477 Washington Street, Brooklyn, a $3.25 million bridge loan from Avant Capital for two multifamily properties. Managing Director Jonathan Aghravi and Associate Director Charles Han negotiated the transaction.
• 309 West 21st Street, New York, NY, a multifamily property refinanced with a $3 million loan with a seven-year term from Dime Savings Bank. Associate Directors Cameron Adelipour and Charles Han negotiated the transaction.
• 1054 Flatbush Avenue, Brooklyn, a mixed-use property refinanced with a $1 million loan with a seven-year term from Valley National Bank. Cameron Adelipour and Charles Han negotiated the transaction.
• 724 Garrison Avenue, the Bronx, a warehouse refinanced with a $1 million, five-year loan from BCB Community Bank. Cameron Adelipour and Charles Han negotiated the transaction.