Meridian Capital announced the following transactions:
Meridian negotiated a new mortgage in the amount of $6,100,000 on a 106-unit multifamily property located on Montgomery Street in Brooklyn, NY.
The loan features a rate of 3.99 percent and a five-year term. David Hayum negotiated this transaction.
Two new mortgages of $3,400,000 were placed by Meridian on two multifamily properties totaling 70 units located on Olinville and Beaumont Avenues in the Bronx, NY.
The loans feature rates of 3.375 percent and five-year terms.
Morris Diamant and Steven Ribiat negotiated this transaction.
Meridian negotiated a new mortgage in the amount of $2,430,000 on a 47-unit cooperative property located on Avenue N in Brooklyn, NY. The loan features a rate of 3.75 percent and a seven-year term. Morris Diamant negotiated this transaction.
A new mortgage of $1,700,000 was placed by Meridian on a multifamily property totaling eight units located on Carroll Street in Brooklyn, NY.
The loan features a rate of 3.875 percent and a five-year term. This transaction was negotiated by Steven Ribiat.
Meridian negotiated a new mortgage in the amount of $1,275,000 on a mixed-use property located on Essex Avenue in Orange, NJ.
The loan features a rate of 3.875 percent and a five-year term. Judah Hammer and Daniel Neiss negotiated this transaction.
A new mortgage of $1,100,000 was placed by Meridian on a multifamily property totaling 46 units located on East 22nd Street in Brooklyn, NY. The loan features a rate of 3.875 percent and a 36-month term.
This transaction was negotiated by Judah Hammer and Daniel Neiss.
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GCP Capital Group LLC has arranged mortgage financing in the aggregate amount of $20,725,000 for the following properties:
$6,300,000 for two five-story multifamily apartment buildings containing a total of 62 apartments, located in the Inwood section of Upper Manhattan, New York.
Jack Fried, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
$6,000,000 for the development of a two-story commercial building of approximately 19,200 square feet, located in Jamaica, Queens, New York.
Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
$4,000,000 for the acquisition of 53 individual condominium units located in different buildings throughout the Parkchester neighborhood of the Bronx, New York.
George Spanos, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
$2,500,000 for two six-story multifamily buildings and one six-story mixed-use building containing a total of 63 apartments and approximately 10,300 square feet of commercial space, located on St. Nicholas Avenue in Manhattan, New York.
Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
A second mortgage in the amount of $1,925,000 for three four-story mixed-use apartment buildings containing a total of 20 apartments and 8 commercial units, located in Upper Manhattan, New York.
Michael Charnowitz, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
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Ariel Property Advisors’ Capital Services Division recently arranged $16.7 million in financing for 5 transactions located in Manhattan, Brooklyn and Connecticut.
The funding was highlighted by a bank construction loan that utilized Affordable New York, a popular developer tax incentive.
Led by Ariel’s Paul McCormick, Senior Vice President of Investment Sales and Capital Services, and Directors, Matt Dzbanek and Matt Swerdlow, the Division arranged financing for 13 properties, which included mixed-use, multifamily, and retail buildings.
A 5-year, 75 percent loan-to-value (LTV), non-recourse, cash-out loan with a fixed-rate of 4 percent.
Funding for a portfolio including the acquisition of a vacant 3-family property with a short-term community facility tenant occupying the basement.
The client refinanced the remaining assets, which consists mostly of smaller-sized multifamily and mixed-use properties.
The borrower, a foreign national, received a 5-year term, with 30-year amortization and 75 percent loan-to-value (LTV).
The non-recourse, cash-out loans had a fixed-rate of 4.25 percent, and were not cross-collateralized, giving the client increased flexibility on his exit from the mortgage.
A $1.8 million ground-up construction loan for an 8-unit rental building was provided by an out-of-state balance sheet lender.
The Division played a pivotal role in educating the lender on the specific details of Affordable New York, which was just ratified 2-months prior to the loan’s submission.
A $1.4 million cash-out refinance loan on a 7-unit rental property. All tenants were part of the Section 8 voucher program, with the non-recourse loan featuring a flexible prepayment penalty should the borrower decide to sell.
$1 million cash-out refinance loan for the 9-unit mixed-use property. The loan featured a highly attractive fixed rate of 3.375 percent for a 3-year term with 30 years of amortization through a balance sheet lender.
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Eastern Union announced the following transactions:
A $27,525,700 first lien mortgage for the acquisition of a 200-unit multifamily on SE Olson Dr in Waukee, IA. This transaction was arranged by Jeffrey Seidenfeld.
A $23,000,000 first lien mortgage for the refinance of a 46-unit multifamily on Collins St in Hartford, CT.
This transaction was arranged by Nate Hyman and David Metzger.
A $16,800,000 first lien mortgage for the acquisition of a 99-unit mixed-use on Walnut St in Philadelphia, PA.
This transaction was arranged by David Metzger and Nate Hyman.
A $11,600,000 first lien mortgage for the refinance of a 262-unit multifamily on E Sanford St in Arlington, TX.
This transaction was arranged by Judah Aderet and Moshe Feiner.
A $6,500,000 first lien mortgage for the refinance of a 61-unit mixed-use on Rosedale Ave in Bronx, NY.
This transaction was arranged by Michael Muller.
A $5,450,000 first lien mortgage for the acquisition of a 100-unit multifamily on Dilworth St in Saint Marys, GA.
This transaction was arranged by Adelle Ross and Judah Aderet.
A $5,000,000 first lien mortgage for the acquisition of a shopping center on Hungerford Dr in Rockville, MD.
This transaction was arranged by Marc Tropp.
A $4,600,000 first lien mortgage for the acquisition of a multifamily on Goldsboro Rd,Radnor Rd in Bethesda, MD.
This transaction was arranged by David Merkin and Marc Tropp.
A $3,440,000 first lien mortgage for the refinance of a 41-unit multifamily on Cleveland St in Orange, NJ.
This transaction was arranged by David Metzger and Nate Hyman.
A $2,500,000 first lien mortgage for the refinance of an office building on Madison Ave in Lakewood, NJ.
This transaction was arranged by Moti Amsel.
A $2,440,000 first lien mortgage for the acquisition of a 30-unit multifamily on Brookes Ave in Gaithersburg, MD.
This transaction was arranged by David Merkin and Marc Tropp.
A $2,409,000 first lien mortgage for the refinance of a 8-unit multifamily on Sumpter St in Brooklyn, NY.
This transaction was arranged by Aaron Sussman and Isaac Weiss.
A $2,350,000 first lien mortgage for the acquisition of a 61-unit multifamily on N Gross Rd in Kingsland, GA.
This transaction was arranged by Adelle Ross and Judah Aderet.
A $2,053,126 first lien mortgage for the acquisition of a 20-unit multifamily,mixed-use on Union St,N 7th St in Allentown, PA.
This transaction was arranged by David Eisen and Meir Kessner.
A $1,420,000 first lien mortgage for the acquisition of a multifamily on Tranquility Dr in Boca Raton, FL.
This transaction was arranged by CJ Danziger.
A $1,400,000 first lien mortgage for the refinance of a 30-unit multifamily on S Cregier Ave in Chicago, IL.
This transaction was arranged by Jeffrey Seidenfeld.
A $1,025,000 first lien mortgage for the acquisition of a 10-unit multifamily on Maclay Ave in Bronx, NY.
This transaction was arranged by Nate Hyman and David Metzger.
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Hirshmark Capital, through an affiliate entity, announced the funding of a $800,000 bridge loan secured by a multifamily building in the Bedford Stuyvesant neighborhood of Brooklyn.
The subject property is a 6,000 SF building with six units, three of which are vacant.
The borrower needed capital to renovate the subject property.
