Meridian Capital announced the following transactions:
- A new mortgage of $1,600,000 was placed on a four-story, seven-unit multifamily property located on West 139th Street in New York, NY. The loan features a rate of 2.77% and a three-year term. This transaction was negotiated by Judah Hammer and Daniel Neiss.
- A new mortgage in the amount of $5,000,000 on a five-story, 15-unit multifamily property on East 10th Street in New York, NY. The loan features a rate of 3.00% and a five-year term. Isaac Filler and Michael Helmreich negotiated this transaction.
- A new mortgage of $4,100,000 was placed on a four-story, 43-unit multifamily property located on West 11th Street in Brooklyn, NY. The loan features a rate of 3.00% and a four-year term. This transaction was negotiated by Judah Hammer and Daniel Neiss.
- A new mortgage in the amount of $2,950,000 on a three-story, 24-unit multifamily property located on Flatlands Avenue in Brooklyn, NY. The loan features a rate of 3.13% and a five-year term. Morris Diamant and David Steinmetz negotiated this transaction.
- A new mortgage of $1,820,000 was placed on a four-story, six-unit multifamily property on Bedford Avenue in Brooklyn, NY. The loan features a rate of 3.50% and a six-year term. This transaction was negotiated by Michael Farkovits.
- A new mortgage in the amount of $1,050,000 on a four-story, eight-unit multifamily property on Seventh Avenue in Brooklyn, NY. The loan features a rate of 3.25% and a five-year term. Shamir Seidman and Michael Neumann negotiated this transaction.
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Greystone closed its first Freddie Mac Fast-Track Co-op Early Rate Lock loan to refinance Rego Park Gardens, a co-operative apartment building in Queens, NY. The $9,500,000 loan was arranged by Andrew Ellis of Greystone and Peter Grazide of Total Real Estate Finance Solutions. The loan includes a 15-year term with a 30-year amortization.
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GCP Capital Group arranged mortgage financing in the aggregate amount of $35,420,000 for the following properties:
- $10,300,000 for a package of three commercial properties totaling approx. 48,000 square feet, located throughout the Bronx, New York. Adam Brostovski, principal, arranged the financing for this portfolio.
- $10,000,000 for three contiguous six-story multifamily apartment buildings containing a total of 330 apartments and 2 commercial units, located throughout the Bronx, New York. Paul Greenbaum, managing member, arranged the financing for this transaction.
- $8,000,000 for a 19,000 s/f, one-story retail shopping center containing 13 commercial spaces, located on Cross Bay Boulevard in Queens, New York. Paul Greenbaum arranged the financing.
- $4,900,000 for a four-story apartment building containing 25 units, located on Kent Avenue in Brooklyn, New York. Adam Brostovski arranged the financing.
- $2,220,000 for a four-story apartment building containing 7 units, located on 47th Road in Long Island City, New York. Matthew Albano, senior broker arranged the financing for this property.
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Eastern Union Funding announced the following transactions:
- A $2,175,000 first lien mortgage to refinance a 19-unit mixed-use on Ogden Avenue in Bronx, NY. This loan closed with 3.375% interest. It was arranged by Mike Orlik and Michael Muller
- A $7,000,000 first lien mortgage to refinance a 54-unit multifamily in Philadelphia, PA. This loan closed with 3.5% interest. It was arranged by Meir Kessner
- A $5,450,000 bridge loan to refinance a 15-unit multifamily in Bronx, NY. This loan closed with 5% interest on a 2.5 year term. It was arranged by David Eisen and Meir Kessner
- A $16,680,000 first lien mortgage for the acquisition of a 324-unit multifamily in South Jersey. This loan closed with 3.25% interest. It was arranged by David Metzger and Nate Hyman
- A $2,200,000 first lien mortgage to refinance a 20-unit multifamily in Brooklyn, NY. This laon closed with 3.59% interest. It was arranged by David Eisen and Moti Amsel
- A $2,550,000 first lien mortgage for the acquisition of a five-unit mixed use on Carrol Street in Brooklyn, NY. This loan closed with 3.375% interest. It was arranged by Moshe Lipschitz, Michael Muller and Mike Orlik
- A $4,050,000 first lien mortgage to refinance a 52-unit multifamily on University Avenue in Bronx, NY. This transaction was arranged by Michael Muller and Mike Orlik
- A $8,775,000 first lien mortgage to refinance a 47-unit mixed use on Townsend Avenue in Bronx, NY. This loan closed with 3.375% interest. It was arranged by Mike Orlik and Michael Muller
- A $9,300,000 first lien mortgage to refinance a 47-unit mixed use on Walton Avenue in Bronx, NY. This loan closed with 3.375% interest. It was arranged by Mike Orlik and Michael Muller.
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W Financial announced that Hudson Companies has received a $6.5 million bridge loan to secure a development site in Williamsburg, Brooklyn. Hudson Companies plans to develop the site at 94 North Third Street at Metropolitan Avenue, into a seven-story, 75-unit, mixed-use building with 15,000 s/f of prime ground-floor retail space. W Financial funded the bridge loan. David Heiden said the loan will be repaid upon the closing of the construction loan.
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Silver Arch Capital Partners closed an $8 million first mortgage loan secured by two mixed-use properties in New York City, announced Jeffrey Wolfer, president. The financing, obtained by Mooney House LLC and 127 Mott Street LLC, will enable the borrowers to pay off an existing mortgage, continue the renovation of the properties, and fund reserves and closing costs. The properties include 18 Bowery/1-7 Pell Street, which has four residential apartments and two ground-level commercial spaces in two buildings,.
