Meridian Capital announced the following transactions:
• A new mortgage of $2,200,000 was placed on a four-story, 31-unit multifamily property located on Willmohr Street in Brooklyn, NY. The loan features a rate of 2.88% and a three-year term. This transaction was negotiated by Judah Hammer and David Bollag.
• A new mortgage in the amount of $6,800,000 on a six-story, 39-unit mixed-use property located on Prince Street in New York, NY. The loan features a rate of 3.15% and a five-year term. Cary E. Pollack and Justine Hughes negotiated this transaction.
• A new mortgage of $4,300,000 was placed on a five-story, 20-unit multifamily property located on West 49th Street in New York, NY. The loan features a rate of 3.13% and a five-year term. This transaction was negotiated by Judah Hammer and Daniel Neiss.
• A new mortgage in the amount of $2,100,000 on a six-story, 34-unit multifamily property located on Weeks Avenue in the Bronx, NY. The loan features a rate of 3.00% and a five-year term. Morris Diamant and Ben Piller negotiated this transaction.
• A new mortgage of $1,600,000 was placed on a five-story, 20-unit multifamily property located on West 45th Street in New York, NY. The loan features a rate of 3.13% and a five-year term. This transaction was negotiated by Judah Hammer and Michael Ryback.
• A new mortgage in the amount of $1,500,000 on a three-story, eight-unit multifamily property located on St. Marks Avenue in Brooklyn, NY. The loan features a rate of 3.13% and a five-year term. Shamir Seidman and Daniel Neiss negotiated this transaction
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GCP Capital Group LLC arranged mortgage financing in the aggregate amount of $40,825,000 for the following properties:
• $20,500,000 combined financing for 2 six-story apartment buildings containing a total of 80 apartments and 7,800 square feet of retail space, located in the Hamilton Heights section of New York. Alan Perlmutter arranged the financing for these transactions.
• $13,800,000 combined financing for 2 six-story apartment buildings containing a total of 134 apartments, located throughout Brooklyn. Stephen Katz arranged the financing for these transactions.
• $3,375,000 for a five-story apartment building containing 48 apartments, located on East 175th Street in the Bronx. Adam Brostovski arranged the financing.
• $1,650,000 for a five-story apartment building containing 20 apartments, located on West 164th Street in Manhattan. Michael Charnowitz arranged the financing.
• $1,500,000 for a four-story apartment building containing 8 apartments, located on Calyer Street in Brooklyn. Matthew Albano arranged the financing for this transaction.
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Hybrid Capital arranged $6 million in permanent financing for two attached six-story residential buildings on the Upper East Side of Manhattan. The announcement was made by Bobby Bakhchi, CEO of Hybrid Capital. Constructed in 1910 and renovated in 1984, the 100% occupied elevator buildings contain 25,000 s/f with 48 residential units and four ground floor retail spaces.
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NorthMarq Capital announced the following transactions:
• Gary Cohen, senior vice president/senior director of NorthMarq Capital’s New Jersey based regional office closed a $5,062,500 loan for the acquisition of Regency Apartments, a 100-unit multifamily property located in Sussex, N.J. The borrower worked exclusively with Cohen, to finance this transaction with a local bank. Financing was based on a 12-year term and 30-year amortization schedule at a very attractive 3.6% interest rate.
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Dan Houlihan of H & O Capital Funding of Bronxville announced the recent closings of five private loans on properties located in the Bronx, Brooklyn, Harlem and Dutchess County, NY. Houlihan, acting as the lender, made loans ranging from $185,000 to $3,300,000.
• The Bronx loan of $3,300,000 was made on a nearly completed 38-unit apartment complex.
• The Dutchess County loan of $230,000 was a blanket first mortgage across an investor owner single family property and a parcel of vacant land.
• Two loans were placed in Brooklyn. One was a $395,000 first mortgage on an investor owned single family home and the other was a $200,000 first on a mixed-use property.
• H & O Capital Funding made a $1,000,000 first mortgage on a community facility/daycare center in Harlem.
