Meridian Capital announced the following transactions:
• Six new mortgages in the amount of $15,300,000 on six multifamily properties located in Union City, NJ. The loans feature rates of 3.67 percent and five-year terms. Judah Hammer negotiated these transactions.
• A new mortgage of $6,500,000 was placed by Meridian on a cooperative property totaling 88 units located on Garth Road in Scarsdale, NY. The loan features a rate of 3.8 percent and a 10-year term. This transaction was negotiated by Steve Geller and Nicoletta M. Pagnotta.
• Meridian negotiated a new mortgage in the amount of $4,500,000 on a 20-unit multifamily property located on East Eighth Street in New York, NY. The loan features a rate of 3.875 percent and a five-year term. Jacob Schmuckler and Meir Schlusselberg negotiated this transaction.
• A new mortgage of $2,300,000 was placed by Meridian on a multifamily property totaling 40 units located on Broadway in Paterson, NJ.
The loan features a rate of 4.25 percent and a five-year term. This transaction was negotiated by Alan Friedman and Eric Chapek.
• Meridian negotiated a new mortgage in the amount of $2,200,000 on an eight-unit multifamily property located on Hart Street in Brooklyn, NY. The loan features a rate of 4.25 percent and a five-year term. Charles Grussgott and Michael Helmreich negotiated this transaction.
• A new mortgage of $1,850,000 was placed by Meridian on a cooperative property totaling 40 units located on Ocean Parkway in Brooklyn, NY. The loan features a rate of 4 percent and a 10-year term. This transaction was negotiated by Isaac Filler and Michael Helmreich.
•••
GCP Capital Group LLC has arranged mortgage financing in the aggregate amount of $27,895,000 for the following properties:
•$13,000,000 for four contiguous six-story multifamily apartment buildings containing a total of 153 apartments, located on Seaman Avenue in Manhattan, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
•$5,795,000 combined financing for two five-story multifamily apartment buildings containing a total of 53 units, located on West 152nd Street in Manhattan, New York. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for these transactions.
•$5,500,000 for the acquisition and renovation of a four-story mixed-use building that will contain 6 apartments and 2,700 square feet of commercial space, located on West 139th Street in Manhattan, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
•$3,600,000 for a newly gut renovated, three-story brownstone containing 8 luxury apartments, located on Park Place in Brooklyn, New York. Matthew Albano, Managing Director of GCP Capital Group, arranged the financing for this transaction.
•••
Hirshmark Capital, through an affiliate entity, announced the funding of a $1,450,000 bridge loan secured by a multifamily in the Ridgewood neighborhood of Queens and a multifamily in the Rockaway neighborhood of Queens. The subject properties total over 12,000 s/f and contain 11 residential units. The borrower needed capital to refinance. The transaction was negotiated by Hirshmark’s Jake Soodek.
•••
Houlihan-Parnes Realtors, represented by Andy Greenspan and James J. Houlihan, placed new three-year financing on two 40,000 s/f buildings at 30 and 40 Ramland Road in Orangeburg, New York. The properties have been owned and managed by GHP Office Realty for 15 years and have undergone extensive renovation over time. The fixed-rate loan features a flexible pre-payment plan and also includes an option for a five year renewal. The borrower was represented by Elizabeth Smith and John Hogan of Goldberg Weprin Finkel Goldstein, and title was placed through Chicago Title Insurance Company.
•••
Eastern Union Funding announced the following transactions:
• A $11,000,000 first lien mortgage for the acquisition of a multifamily on Forest St and N Fullerton Ave in Montclair, NJ. This transaction was arranged by Nate Hyman and David Metzger.
• A $12,560,000 first lien mortgage for the acquisition of a 140-unit multifamily on Old Chamblee Tucker Rd in Doraville, GA. This transaction was arranged by Michael Muller.
• David Eisen and Meir Kessner arranged a $6,800,000 first lien mortgage for the refinance of a 21-unit mixed-use on Bedford Ave in Brooklyn, NY.
• A $6,771,000 first lien mortgage for the acquisition of a 120-unit multifamily on Generals Way in Dover, DE. David Metzger and Nate Hyman arranged the transaction .
• A $4,200,000 first lien mortgage for the acquisition of an industrial property on Hilliard St in Manchester, CT. This transaction was arranged by Ben Schwartz.
• A $3,900,000 first lien mortgage for the acquisition of a multifamily on Lincoln Pl in Brooklyn, NY. This transaction was arranged by Motti Blau and Mendy Pfeifer.
• David Steinberg and Isaac Weiss arranged a $3,700,000 first lien mortgage for the refinance of a 14-unit multifamily on Boston Post Rd in Guilford, CT.
• A $3,586,038 first lien mortgage for the acquisition of a 26-unit multifamily on Van Siclen Ave in Brooklyn, NY. This transaction was arranged by Jeffrey Seidenfeld.
• A $3,520,000 first lien mortgage for the refinance of a 16-unit multifamily on Brown Place, Bronx. This transaction was arranged by Isaac Weiss.
• A $3,300,000 first lien mortgage for the refinance of a 49-unit mixed-use on Chapman Pl in Irvington, NJ. This transaction was arranged by Nate Hyman and David Metzger.
• A $2,519,000 first lien mortgage for the refinance of a 8-unit multifamily on Suydam St in Brooklyn, NY. This transaction was arranged by Meir Kessner and David Eisen.
• A $2,300,000 first lien mortgage for the refinance of a 12-unit multifamily on William St in East Orange, NJ. This transaction was arranged by David Metzger and Nate Hyman.
• 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.
•••
Hakimian Capital announced that it has provided $2,100,000 in acquisition financing for the purchase of an 8-unit multi-family building located in the Prospect Heights neighborhood of Brooklyn. The sponsor, who is an experienced real estate investor, purchased the 8,696 square foot building for $2,550,000. The property was delivered with 3 units vacant. Hakimian Capital was able to fund the loan expeditiously and with minimal due diligence.
•••
Holliday Fenoglio Fowler, L.P. (HFF) announced the $10.6 million refinancing of 100 East Pine Street, an 80,036 s/f office property in Orlando, Florida. HFF worked on behalf of the borrower, Denholtz Associates, to secure the five-year, fixed-rate loan through JCR Capital. 100 East Pine Street is has easy access to Interstate 4 and State Route 408 and offers an abundance of retail, dining and entertainment options. The six-story office building was renovated in 2017 and features floor plates of 13,500 s/f and 9,776 s/f of ground floor retail. Currently 94 percent leased, tenants include Protean Design Group, Venture X, DLR Group, Inc. and Cite Partners, among others. The HFF debt placement team representing the borrower included managing director Michael Klein, senior managing director Michael Weinberg and managing director Rebecca Van Reken.
•••
Leviathan Capital announced the following transactions:
• A $3,950,000 senior mortgage collateralized by an ongoing construction project and a recently completed townhome in Bed-Stuy. Yaron Cohen negotiated the transaction.
• A $5,000,000 acquisition and construction loan for the repositioning of a 52-key hotel. The loan was approximately 79% LTC. Joe Hach and Noele Kleemola negotiated the transaction.
•••
Progress Capital announced Kathy Anderson, managing partner, approved a $2,300,000 bridge Loan, funded by Progress Direct for 350 Pavonia Group, LLC to the acquire the gas station at 348 Baldwin Avenue in Jersey City, NJ. At the time of the acquisition the gas station was vacant with approvals to construct a 45-unit multifamily building. The interest-only loan represents a 90% loan to current “as-is” property value. The term of the loan is 12 months accompanied by a fixed-rate of 12%.
•••
Marcus & Millichap Capital Corporation announced the following transactions:
• A $5,500,000 refinance was arranged for a 3-unit, mixed-use property located in the Upper East Side on 60th Street. The financing was arranged by Andrew Dansker.
• A $1,900,000 refinance was arranged for a 5-unit, mixed-use property located in Harlem. The financing was arranged by Andrew Dansker.
