Meridian Capital announced the following transactions:
- A new mortgage in the amount of $5,000,000 on a four-story, 25-unit multifamily property located on Second Avenue in New York, NY. The loan features a rate of 3.35% and a seven-year term. Brian Flax and Bryan Geffen negotiated this transaction.
- A new mortgage of $5,175,000 was placed on a five-story, 36-unit multifamily property located on Broadway in New York, NY. The loan features a rate of 3.50% and a five-year term. This transaction was negotiated by Shamir Seidman and Daniel Neiss.
- A new mortgage in the amount of $3,400,000 on a five-story, 27-unit multifamily property located on East 173rd Street in the Bronx, NY. The loan features a rate of 3.50% and a five-year term. Isaac Filler and Michael Helmreich negotiated this transaction.
- A new mortgage of $2,750,000 was placed on a four-story, 31-unit multifamily property located on 158th Street in Queens, NY. The loan features a rate of 3.625% and a five-year term. This transaction was negotiated by Joe Taub and Eric Chapek.
- A new mortgage in the amount of $2,350,000 on a seven-unit multifamily property located on Prospect Place in Brooklyn, NY. The loan features a rate of 3.50% and a seven-year term. Moe Rosenblum negotiated this transaction.
- A new mortgage of $2,270,000 was placed by Meridian on a 37-unit multifamily property located on Maple Avenue in Hillside, NJ. The loan features a rate of 3.50% and a five-year term. This transaction was negotiated by Alan Friedman and Eric Chapek.
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Marcus & Millichap Capital Corporation announced the following transactions:
- A $5,100,000 loan for the refinance of a 50-unit multifamily building on Dongan Place in the Hudson Heights neighborhood of Manhattan. The transaction was arranged by Andrew Dansker and Lior Goldberg.
- Two loans totaling $4,700,000 for the refinance of two single-tenant retail condos located on North Moore Street in the TriBeCa neighborhood of Manhattan. The transaction was arranged by Andrew Dansker and Matt Michelson.
- A $4,150,000 loan collateralized by a 15,000 square foot triple-net leased retail property in New Hartford, New York. The loan was arranged by Andrew Dansker and Andrew Schramm.
- A $3,200,000 loan for the refinance of two adjacent mixed-use properties located on Broadway in the Williamsburg neighborhood of Brooklyn. The loan was arranged by Andrew Dansker, Matt Michelson, and Andrew Schramm.
- A $1,200,000 loan for the refinance of a mixed-use retail and hotel property located on West 56th Street in Midtown Manhattan. The loan was arranged by Andrew Dansker & Matt Michelson.
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Jeremiah A Houlihan of Houlihan Parnes Realtors announce two loans placed with Savings Banks for 10-year terms at prevailing interest rates on 25-yr amortization schedules. The Lenders charged a 0.5% commitment fee and the loans have sliding scale prepayment penalties:
- A 1st mortgage loan in the amount of $850,000 on a mixed use building located at 925-939 Yonkers Ave across the street from the Empire City Casino in Yonkers. The property consists of a 2-story building with the Clairmont Diner on the 1st floor and three apartments on the 2nd floor as well as an attached one-story building containing an automobile service station.
- A 1st Mortgage loan in the amount of $1,250,000 on a 1-story retail strip center located at 148-164 East Route 59 in Nanuet, NY. Tenants include Empire State College, Sterling Optical and Bach-to-Rock music school.
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Eastern Union Funding announced the following trnasactions:
- $10.2 million in first lien mortgages for the purchase of two multifamily properties in East Orange and Orange, NJ, which include 157 units and two retail units totaling 1,600 sf. These 75% LTV acquisition loans were arranged by Michael Muller.
- A $5,340,000 first lien mortgage for the acquisition of a 37-unit multifamily on Franklin Ave. in Bronx, NY. This transaction was arranged by Michael Muller.
- A first lein mortgage of $3,700,000 for the acquisition of a 27-unit multifamily on Hull Ave. in Bronx, NY. This transaction was arranged by Michael Muller.
- A $3,250,000 first lien mortgage for the refinance of an 8-unit mixed-use on Clinton St. in Brooklyn, NY. This transaction was arranged by Motti Blau.
- A $2,950,000 first lien mortgage for the refinance of a 24-unit multifamily on Foster Ave. in Brooklyn, NY. This transaction was arranged by Michael Muller.
- A $2,206,000 first lien mortgage for the refinance of a 9-unit multifamily on Lenox Rd. in Brooklyn, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.
- A $1,800,000 first lien mortgage for the refinance of an 8-unit multifamily on Eldert St. in Brooklyn, NY. This transaction was arranged by Moshe Lipschitz.
- A $1,500,000 first lien mortgage for the refinance of a 3-unit multifamily on Palmetto St. in Ridgewood, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.
- A $1,350,000 first lien mortgage for the refinance of a 6-unit multifamily on Owls Head Ct. in Brooklyn, NY. This transaction was arranged by Alex Freund.
- A $1,275,000 first lien mortgage for the refinance of a 10-unit mixed-use on Georgia Ave. in Silver Spring, MD. This transaction was arranged by David Merkin and Marc Tropp.
- A $1,000,000 first lien mortgage for the refinance of a 14-unit multifamily on E 25th St. in Bayonne, NJ. This transaction was arranged by Moti Amsel and Jay Tyberg.
- A $880,000 first lien mortgage for the acquisition of a 17-unit multifamily on Carteret St. in Newark, NJ. This transaction was arranged by David Singer.
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GCP Capital Group arranged mortgage financing in the aggregate amount of $38,375,000 for the following properties:
- $18,000,000 for a garden apartment complex containing a total of 130 units, located in Amityville, Suffolk County, New York. Matthew Albano, Managing Director, arranged the financing for this transaction.
- $11,400,000 combined debt and equity for a six-story multifamily apartment building containing 61 units, located in the Fordham area of the Bronx, New York. Adam Brostovski, Principal, arranged the financing and equity raise for this transaction.
- $5,675,000 for a six-story multifamily apartment building containing 42 units, located on West 158th Street in Manhattan, New York. Michael Charnowitz, Senior Associate, arranged the financing.
- $3,500,000 for a five-story multifamily apartment building containing 46 units, located on Naples Terrace in the Bronx, New York. Matthew Classi, Managing Member, arranged the financing for this transaction.
- $3,000,000 for a five-story multifamily apartment building containing 51 units, located on Bainbridge Avenue in the Bronx, New York. Matthew Classi arranged the financing.
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Hirshmark Capital LLC, through an affiliate entity, recently closed the following transactions:
- A $6,060,000 bridge loan secured by a development site in the Sheepshead Bay neighborhood of Brooklyn. The loan is collateralized by three parcels, totaling 80,000 buildable SF and 350 feet of wraparound frontage. The borrower needed capital to acquire the development site with a TOE closing. Hirshmark Capital’s Igor Vaysberg negotiated this transaction.
- A $6,400,000 bridge loan secured by secured by five properties throughout Manhattan and Brooklyn. The subject properties are in East Harlem, Williamsburg, and Bushwick, and contain 38 residential units and 1 commercial unit spread across a total of 31,000 SF. The property owner, a repeat borrower, needed capital to execute on a time sensitive purchase of one of the properties. The borrower was able to use his existing portfolio’s equity in order to purchase the property with no cash out of pocket. Mark Levin negotiated this transaction.
- A $1,550,000 bridge loan secured by a two-story retail building in the Greenpoint neighborhood of Brooklyn. The subject property is a roughly 5,900 s/f of vacant retail space with 170 feet of wraparound frontage. The property sits on a corner of a major intersection where Williamsburg, BedStuy, and Bushwick all meet and is just two blocks from a major subway station. The borrower needed capital to pay off the maturing loan and to renovate the subject property. Jake Soodek negotiated this transaction.
- A $1,215,000 bridge loan secured by two properties in Brooklyn and Queens with a total of 5,200 square feet. The Brooklyn property is a 4 story, 3,6000 square foot, brick mixed-use building with 6 apartments and 1 commercial space on the ground floor located in the Bedford Stuyvesant neighborhood. The borrower needed capital to pay off the maturing loan and to renovate the subject property. Matt Schatzle negotiated this transaction.
- A $900,000 bridge loan secured by a 5,300-square foot live-work building in the Prospect Lefferts Garden neighborhood of Brooklyn. The property is 5,900 s/f of vacant retail space with 170 feet of wraparound frontage. The property sits on a 100 x 105 square foot lot and is just two blocks away from Prospect Park. The borrower needed capital to purchase other real estate. Jake Soodek negotiated this transaction.
- A $805,000 bridge loan secured by a retail condo in the Harlem neighborhood of Brooklyn. The subject property consists of over 70 feet of frontage and is on the same block as the B and C subway lines. The borrower needed capital for the purchase of the subject property. Jake Soodek negotiated this transaction.
- A $750,000 bridge loan secured by a three story mixed-use commercial building in the Bushwick neighborhood of Brooklyn. The subject property is over 4,000 square feet and is minutes away from numerous subway lines. The borrower needed capital to renovate several units in the building. Igor Vaysberg negotiated this transaction.
