Transactions: Meridian Capital, Emerald Creek Capital, Eastern Union and more

Meridian Capital announced the following transactions:

• A new mortgage of $2,900,000 was placed on a six-story, 40-unit multifamily property located on Cruger Avenue in Bronx, NY. The loan features a rate of 2.75% and a four-year term. This transaction was negotiated by Jacob Schmuckler and Sam Shifer.
• New mortgages totaling $55,200,000 on 11 multifamily properties composed of 386 units located on Wales Avenue, Sedgwick Avenue, Creston Avenue, Davidson Avenue, Devoe Terrace, Andrews Avenue North, Grand Avenue, East 163rd Street and North Street in the Bronx, NY. The loans feature rates of 3.13% and five-year terms. Moe Rosenblum negotiated these transactions.
• New mortgages totaling $30,805,000 were placed on six multifamily properties composed of 451 units located on Riverside Drive, West 135thStreet and West 141st Street in New York, NY and Tennis Court and Ocean Avenue in Brooklyn, NY. The loans feature rates of 3.25% and 15-year terms. These transactions were negotiated by Jacob Schmuckler and Dovid Ostrov.
• New mortgages totaling $11,975,000 on two multifamily properties composed of 70 units located on 1st Avenue in New York, NY and White Oak Street in New Rochelle, NY. The loans feature rates of 3.38% and seven-year terms. Chaim Tessler negotiated these transactions.
• A new mortgage of $2,895,000 was placed on a 36-unit multifamily property located on Drake Avenue in New Rochelle, NY. The loan features a rate of 3.00% and a five-year term. This transaction was negotiated by Ami Levin.
• A new mortgage in the amount of $1,250,000 on a three-story, 13-unit multifamily property located on Hill Street in Brooklyn, NY. The loan features a rate of 3.13% and a five-year term. Jacob Schmuckler and Sam Shifer negotiated this transaction.
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Emerald Creek Capital, LLC provided a $8,550,000 bridge loan secured by a six-story 11,300 SF mixed use building currently undergoing a condo conversion. Located in Tribeca on Broadway between Walker Street and White Street, the completed product will be comprised of four residential loft condominiums and one retail condominium. The loan was originated by Jeff Seidler.

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Eastern Union announced the following transactions:

• $18,000,000 first lien mortgage to refinance a construction project in Brooklyn, NY. this transaction was negotiated by Jonathan Singer
• A $4,500,000 first lien mortgage to refinance a 55-unit multifamily in Bronx, NY. This transaction was negotiated by Michael Muller
• A $3,100,000 first lien mortgage to refinance an 82-unit, six story apartment building on Hinckley Place in Brooklyn, NY. This transaction was negotiated by Ira Zlotowitz and Michael Muller
• A $3,500,000 first lien mortgage to refinance a a six-unit multifamily on Stanhope Street in Brooklyn, NY. This transaction was negotiated by David Eisen
• A $3,100,000 first lien mortgage for the refinance of a six–story multifamily on Ditmas Avenue in Brooklyn, NY. This transaction was negotiated by Ira Zlotowitz and Michael Muller.
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GCP Capital Group LLC arranged mortgage financing in the aggregate amount of $11,635,000 for the following properties:

• $4,760,000 combined financing for 2 five-story apartment buildings containing a total of 62 apartments, located throughout the Bronx, New York. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
• $2,375,000 for a four-story apartment building containing 23 apartments, located on Albemarle Road in Brooklyn, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $1,900,000 for a four-story mixed-use building containing 5 apartments and 3,060 square feet of ground floor retail space, located on Lenox Avenue in Manhattan, New York. Adam Brostovski arranged the financing for this transaction.
• $1,500,000 for a single-tenant, three story commercial building comprised of 6,000 square feet, located in the Sunset Park neighborhood of Brooklyn, New York. Paul Greenbaum arranged the financing for this transaction.
• $1,100,000 for a four-story apartment building containing 6 apartments and 1 store, located on Fifth Avenue in Brooklyn, New York. George Spanos, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
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Pergolis Swartz Associates Inc. announced the following transactions:

• Barry Swartz acquired acquisition financing in the amount of $4,600,000 for three 5-story walk-up apartment buildings with 25 units and 6 stores located on Amsterdam Avenue in Manhattan.
• Barry Swartz closed a permanent mortgage in the amount of $2,900,000 for a five story residential building with 10 units on East 10^th Street in Manhattan.
• Barry Swartz obtained permanent financing in the amount of $3,750,000 for a five story walk-up with 10 residential apartments on East 10th Street in Manhattan.
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Walker & Dunlop announced a loan for $17,365,000 was arranged for The Manor at Woodside, located in Poughkeepsie, NY. The senior housing-independent living facility has 112 units on three floors. Russell Dey, assistant vice president, Multifamily Finance, arranged the transaction.