Meridian announced the following transactions:
• New mortgages totaling $49,240,000 were placed on nine multifamily properties composed of 585 units located on Audubon Avenue, Arden Street, Kings Highway, Bay Parkway, Glenwood Road, Hunts Point Avenue, Valentine Avenue, Claflin Avenue and Weeks Avenue in New York, Brooklyn, and the Bronx, NY. The loans feature rates of 2.75% and four-year terms. These transactions were negotiated by Morris Diamant and Ben Piller.
• A new mortgage in the amount of $18,000,000 on a six-story, 42-unit multifamily property on Third Avenue in New York, NY. The loan features a rate of 3.13% and a five-year term. David Hayum and Moe Rosenblum negotiated this transaction.
• New mortgages totaling $11,225,000 were placed by Meridian on four multifamily properties composed of 169 units located on South Munn Avenue, Prospect Street and Reynolds Terrace in East Orange and Orange, NJ. The loans feature rates of 3.00% and five-year terms. These transactions were negotiated by Morris Diamant and Tzvi Krieger.
• A new mortgage in the amount of $7,350,000 on a six-story, 24-unit multifamily property located on West 111th Street in New York, NY. The loan features a rate of 3.30% and a five-year term. Isaac Filler and Sam Shifer negotiated this transaction.
• A new mortgage of $3,000,000 was placed by Meridian on a four-story, 12-unit multifamily property located on East 28th Street in New York, NY. The loan features a rate of 3.13% and a five-year term. This transaction was negotiated by Chaim Tessler.
• A new mortgage in the amount of $1,800,000 on a four-story, 33-unit multifamily property located on 28th Street in Long Island City, NY. The loan features a rate of 3.00% and a five-year term. Cary E. Pollack and Steven Cohen negotiated this transaction.
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Pergolis Swartz Associates Inc. announced the following transactions:
• A permanent mortgage in the amount of $3,250,000 was arranged by Barry Swartz for a five story apartment building containing 10 units located on East 83rd Street in Manhattan.
• Barry Swartz obtained a permanent loan in the amount of $1,250,000 for a 4,485 square foot, single story, free standing commercial building located on Shore Road in Port Washington, New York.
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Silver Arch Capital Partners has closed $3.41 million in construction financing for a Florida-based builder of high-end residential properties. The funding will be utilized for completion of a speculative home in Nokomis, FL, according to Jeffrey Wolfer, president and CEO of the Hackensack, NJ-based Silver Arch Capital. The loan includes a $2.9 million hold back with prepaid interest for nine months. The collateral includes multiple Florida properties.
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CBRE Group Inc. Debt & Structured Finance team completed a $2.5 million first mortgage refinancing secured by The Avenue Plaza, a community retail center in New Hartford, NY. James Gunning, Donna Falzarano and Evan Kleppe arranged the refinancing for a 10-year term at a sub-5% interest rate through a life insurance company, on behalf of the Borrower, Goodrich New Hartford LLC. The loan refinanced existing debt on the 168,561 s/f, Kmart-anchored, suburban retail center, on Commercial Drive.
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Brick Realty Capital closed the following transactions:
• A $700,000 first mortgage on a four-story former SRO that is being converted to a single family townhouse in Harlem for a local real estate investor. The interest only loan is for a two-year term. Brick Capital’s Joel Radmin arranged the financing.
• A $825,000 first mortgage on a three-story mixed use building in East Harlem with one retail tenant and three floor-through loft style apartments for a local real estate investor. The interest only loan is for a two-year term. Jason Au, Director of Finance at Brick Capital, arranged the financing.
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GCP Capital Group has arranged mortgage financing in the aggregate amount of $47,980,000 for the following properties:
• $33,880,000 for an 11-story and 12-story apartment buildings containing a total of 246 units, located on Prospect Place in Brooklyn, New York. Adam Brostovski arranged the financing for this transaction.
• $5,000,000 for a six-story apartment building containing 10 apartments and 1 commercial unit, located in the East Village of New York. David Sessa, Senior Associate of GCP Capital Group, arranged the financing.
• $4,000,000 for a six-story apartment building containing 25 apartments and 3,400 square feet of commercial space, located on the Lower East Side of New York. Paul Greenbaum arranged the financing for this transaction.
• $2,900,000 for a five-story apartment building containing 15 apartments, located on Classon Avenue in Brooklyn, New York. Adam Brostovski arranged the financing for this transaction.
• $2,200,000 for a five-story townhouse building containing 5 apartments and 1 commercial unit, located on South Oxford Street in Brooklyn, New York. Matthew Albano arranged the financing for this transaction.
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Eastern Union Funding announced the following transactions:
• A $1,600,000 first lien mortgage for the refinance of a 16-unit multifamily in Brooklyn, NY. This transaction was negotiated by Alex Freund.
• A $3,250,00 first lien mortgage for the refinance of a mixed-use, consisting of eight residential and four commercial units, located in Brooklyn, NY. This transaction was negotiated by Nate Hyman and David Metzger.
• A $3,100,00 first lien mortgage for the refinance of a 23,871 SF mixed use in Lakewood, NJ. This transaction was negotiated by Jeffrey Seidenfeld.
• A $1,710,000 first lien mortgage for the acquisition of a 20,000 SF mixed use in Brooklyn, NY. This transaction was negotiated by Isaac Sternhill.
• A $1,000,000 first lien mortgage for the refinance of a 4-unit multifamily in Brooklyn, NY. This transaction was negotiated by Mark Perlowitz and Sender Deutsch.
• A $2,100,000 first lien mortgage for the refinance of a 6-unit multifamily in Brooklyn, NY. This transaction was negotiated by David Metzger and Nate Hyman.
• A $1,100,000 first lien mortgage for the refinance of a 16-unit multifamily in Brooklyn, NY. This transaction was negotiated by Isaac Sternhill.
• A $1,750,000 first lien mortgage for the refinance of a 6-unit multifamily in Ridgewood, NJ. This transaction was negotiated by David Metzger and Nate Hyman.
• A $2,850,000 first lien mortgage for the acquisition of a 31-unit multifamily in Brooklyn, NY. This transaction was negotiated by Isaac Sternhill.
• A $1,260,000 first lien mortgage for the acquisition of a 4,800 SF mixed use in Brooklyn, NY. This transaction was negotiated by Nate Hyman and David Metzger.
