Meridian Capital announced the following transactions:
- A new mortgage of $14,725,000 was placed on a six-story, 54-unit multifamily property located on Broadway in New York, NY. The loan features a rate of 2.75% and a five-year term. This transaction was negotiated by Shamir Seidman and Daniel Neiss.
- A new mortgage in the amount of $25,000,000 on a six-story, 41-unit multifamily property located on Broadway in New York, NY. The loan features a rate of 3.13% and a five-year term. Avi Weinstock and Chaim Tessler negotiated this transaction.
- A new mortgage of $19,000,000 was placed by Meridian on a five-story, 41-unit mixed-use property with 4,200 square feet of retail space located on Villa Avenue in the Bronx, 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 $4,000,000 on a six-story, 43-unit multifamily property located on 34th Road in Queens, NY. The loan features a rate of 3.13% and a five-year term. Judah Hammer and Daniel Neiss negotiated this transaction.
- A new mortgage of $3,500,000 was placed on a five-story, 23-unit multifamily property located on Seaman Avenue in New York, NY. The loan features a rate of 3.13% and a five-year term. This transaction was negotiated by Morris Diamant and Steven Ribiat.
- A new mortgage in the amount of $2,500,000 on a four-story, 16-unit multifamily property located on Franklin 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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Cushman & Wakefield arranged $6,622,500 in financing for two transactions exclusively negotiated by directors George Gnad and Jonathan Kristofich along with associate Michael Winters:
- A $4.5 million LP equity position was arranged on behalf of Arena Shoppes LLC for a retail building at 7300 West McNab Road, in North Lauderdale, Florida. The equity provider was an undisclosed U.K. equity source. The retail center, a former Walmart, contains approximately 92,596 s/f. The sponsor is re-tenanting and re-habilitating the building, which will include a new tenant, Ross Dress For Less as anchor.
- A $2.12 million loan was arranged to refinance a 28,600 s/f warehouse building at 59-71 Oak Street, Hackensack, New Jersey. The new loan features a cash out, reduction in interest rate and extended term for seven years. The lender was Atlantic Stewardship Bank. The borrower was 59-71 Oak Street LLC.
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Eastern Union Funding announced the following transactions:
- A $3,100,000 first lien mortgage for the refinance of a 20-unit condo on Elizabeth Ave. in Elizabeth, NJ. This transaction was arranged by Dov Zabrowsky.
- A $4,050,000 first lien mortgage for the refinance of a-16 unit multifamily on Pennsylvania Ave. in Brooklyn, NY. This transaction was arranged by Isaac Sternhill.
- A $2,500,000 first lien mortgage for the refinance of a 12-unit multifamily on Bergen St. in Brooklyn, NY. This transaction was arranged by Michael Muller.
- A $1,000,000 first lien mortgage for the Refinance of a 12-unit multifamily on Cherry St. in Elizabeth, NJ. This transaction was arranged by Jack Beida and Moshe Lipschitz.
- A $1,000,000 first lien mortgage for the refinance of a 6-unit multifamily on W 147th St. in New York, NY. This transaction was arranged by Jack Beida and Moshe Lipschitz.
- A $3,000,000 first lien mortgage for the refinance of a 3-unit mixed-use on Centre St. in Elizabeth, NJ. This transaction was arranged by Dov Zabrowsky.
- A $8,900,000 first lien mortgage for the acquisition of a 153-unit mixed-use property in West Delray Beach, FL. This transaction was arranged by David Metzger and Nate Hyman.
- A $1,550,000 first lien mortgage for the acquisition of a 5-unit multifamily on Degraw Street in Brooklyn, NY. This transaction was arranged by David Metzger and Nate Hyman.
- A $2,500,000 first lien mortgage for the refinance of a 6 unit Multifamily on Jefferson St. in Brooklyn, NY. This transaction was arranged by David Eisen.
- A $9,000,000 first lien mortgage for the refinance of a 121-unit multifamily on NW 17th Ave. in Miami, FL. This transaction was arranged by Moti Amsel and Jay Tyberg.
- A $1,087,000 first lien mortgage for the acquisition of a 6-unit multifamily on McBride St. in Far Rockaway, NY. This transaction was arranged by Motti Blau.
- A $1,135,000 first lien mortgage for the acquisition of a 5-unit mixed-use on Jefferson Ave. in Elizabeth, NJ. This transaction was arranged by Dov Zabrowsky.
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GCP Capital Group LLC arranged mortgage financing in the aggregate amount of $16,465,000 for the following properties:
- $9,000,000 for a six-story multifamily apartment building containing 39 units and 1,200 square feet of commercial space, located on East 66th Street in Manhattan, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this property.
- $2,500,000 for a four-story multifamily apartment building containing 25 apartments, located in Jersey City, New Jersey. Paul Greenbaum arranged the financing.
- $1,900,000 for 2 contiguous four-story apartment buildings containing 24 units, located on Brooklyn Avenue in Brooklyn, New York. Michael Charnowitz, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
- $1,625,000 for a portfolio of 3 three-story apartment buildings containing a total of 18 units, located in Ridgewood, Queens, New York. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
- $1,440,000 for 2 five-story multifamily apartment buildings containing 20 units, located on South Oxford Street in Brooklyn, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
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Pergolis Swartz Associates Inc. announced the following transactions:
- Len Solinsky obtained acquisition financing in the amount of $1,025,000 for three apartment buildings on Dean Street in Brooklyn.
- Barry Swartz closed a permanent loan in the amount of $3,000,000 for two 5-story apartment buildings with a total of 20 units on East First Street in Manhattan.
- Barry Swartz arranged permanent financing in the amount of $6,000,000 for a four story apartment building with 16 units on West 10th Street in Manhattan.
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W Financial announced that David Heiden and Jarret Schochet closed the following loans:
- A $1.275 million bridge loan for the acquisition of asix-unit, multi-family building on Menehan Street in Bushwick, Brooklyn. The loan financed a portion of the purchase price, established a renovation reserve and a tenant buyout reserve. The borrowers plan to add value by buying out tenants and making improvements and then refinance the W Financial loan with a traditional bank loan once the rent roll has been increased and the property is fully cash flowing.
- A $1.2 million first mortgage loan collateralized by a package of 18 vacant lots located on or within close proximity to Van Brunt Street, in Red Hook, Brooklyn. The future development sites include two large assemblages. The borrower is a family that acquired the properties over an extended period and is using theloan to fund a time-sensitive obligation. The borrower is marketing several of the parcels for sale, and plans to use the sale proceeds to repay the W Financial loan.
- A $950,000 loan collateralized by a four-unit, four-story, multi-family building on East 117th Street in East Harlem. The owner originally purchased the property in an all cash transaction and will use the proceeds to recoup a portion of their initial investment. The borrower plans to renovate and maintain the building as a rental property.
- A $900,000 loan for the acquisition of a 2.5-story, cash-flowing property on 77th Street in Elmhurst, Queens. The property has a certificate of occupancy, which permits its use as a hostel. The borrower plans to continue to operate the property as such.
