Meridian Capital announced the following transactions:
• A new mortgage of $2,700,000 was placed on a six-story, 69-unit mixed-use property with 5,160 square feet of retail space located on Lenox Avenue in New York, NY. The loan features a rate of 2.88% and a two-year term. This transaction was negotiated by Morris Diamant and Tzvi Krieger.
• New mortgages totaling $53,550,000 on four multifamily properties composed of 471 units located on West 18th Street in New York, NY, 165th Street in Flushing, NY, Beekman Avenue in Tarrytown, NY and East Hartsdale Avenue in Hartsdale, NY. The loans feature rates of 3.13% and five-year terms. Avi Weinstock and Chaim Tessler negotiated these transactions.
• A new mortgage of $9,000,000 was placed by Meridian on a five-story, 61-unit multifamily property located on West 115th Street in New York, NY. The loan features a rate of 3.13% and a five-year term. This transaction was negotiated by Michael Farkovits.
• A new mortgage in the amount of $7,500,000 on a four story, nine-unit mixed-use property with 6,000 square feet of commercial space on Manhattan Avenue in Brooklyn, NY. The loan features a rate of 3.25% and a five-year term. Morris Diamant and Joe Klein negotiated this transaction.
• A new mortgage of $3,492,000 was placed by Meridian on a six-story, 42-unit multifamily property located on East 17th Street in Brooklyn, NY. The loan features a rate of 3.13% and a five-year term. This transaction was negotiated by Morris Diamant and Ben Piller.
• A new mortgage in the amount of $1,010,000 on a 10-unit multifamily property located on Broadway in Bayonne, NJ. The loan features a rate of 3.13% and a five-year term. Zev Feder and Jacob Fischer negotiated this transaction.
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Walker & Dunlop, Inc. structured a $8,000,000 loan for M3 Multifamily based in Santa Barbara, California, with CUNA Mutual Group to refinance the Links at Forest Creek a 220-unit garden-style apartment community in Round Rock, Texas. The refinance was structured as a 15-year assumable loan with a Wisconsin based life insurance company at a fixed rate of 4.18 percent. Tom Toland, senior vice president, Brandon Strong, vice president, and Jeff Schmidt, assistant vice president, led the Walker & Dunlop team.
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GCP Capital Group LLC has arranged mortgage financing in the aggregate amount of $64,650,000 for the following properties:
• $50,000,000 for 371 unsold cooperative units located within two 21-story hi-rise elevator apartment buildings, located in Jersey City, New Jersey. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
• $7,000,000 for an 81-unit luxury apartment building, located in Orange, New Jersey. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this property.
• $4,500,000 combined financing for a four-story apartment building containing 19 units, located in Astoria, New York and a three-story apartment building containing 8 units, located in Long Island City, New York. Matthew Albano, Senior Broker of GCP Capital Group, arranged the financing for these properties.
• $3,150,000 for a four-story mixed-use building containing 6 apartments and 1,850 square feet of commercial space, located on Second Avenue in Manhattan, New York. David Sessa, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
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Houlihan-Parnes Realtors, LLC, has arranged first mortgage financing totaling $1,500,000. The financing was for the acquisition of a multi-family portfolio located in Binghamton N.Y. The 13 properties with total 113 units, are all located within a 3 mile radius. The bridge loan has a term of one year and is pre-payable without penalty after 6 months. The interest-only loan closed in just two weeks allowing the borrower to meet a 1031-exchange deadline. This transaction was handled by Ed Graf of Houlihan-Parnes Realtors, LLC.
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Eastern Union Funding announced the following transactions:
• A $5,950,000 first lien mortgage for the refinance of multifamily on Madison Street in Brooklyn, NY. This transaction was arranged by David Eisen.
• A $3,500,000 first lien mortgage for the refinance of a 48 unit mixed-use on Grand Concourse in Bronx, NY. This transaction was arranged by Michael Muller.
• A $3,500,000 first lien mortgage for the refinance of a 49 unit multifamily on Olinville Ave. in Bronx, NY. This transaction was arranged by Michael Muller.
• A $2,308,000 first lien mortgage for the acquisition of a 84 unit multifamily on W 28th St, in Plainview, TX. This transaction was arranged by Michael Muller and Ira Zlotowitz.
• A $2,000,000 first lien mortgage for the refinance of a parking garage on 1st Ave. in New York, NY. This transaction was arranged by Phil Krispin.
• A $1,460,000 first lien mortgage for the acquisition of a 26 unit multifamily on Woodworth Ave. in Yonkers, NY. This transaction was arranged by Jeffrey Seidenfeld.
• A $925,000 first lien mortgage for the refinance of a 21 unit mixed-use on Broadway in Newburgh, NY. This transaction was arranged by Ira Zlotowitz.
