Meridian Capital announced the following transactions:
- A new mortgage in the amount of $2,500,000 on a two-story, 12-unit multifamily property located on 214th Place in Queens, NY. The loan features a rate of 2.75% and a five-year term. Joseph Taub and Eric Chapek negotiated this transaction.
- A new mortgage of $11,925,000 was placed on a five-story, 32-unit multifamily property located on Franklin Avenue in Brooklyn, NY. The loan features a rate of 3.05% and a four-year term. This transaction was negotiated by David Cohen and Marvin Jeremias.
- A new mortgage in the amount of $6,700,000 on a three-story, 9,700 square foot retail property located on West Broadway in New York, NY. The loan features a rate of 3.15% and a five-year term. Cary E. Pollack and Justine Hughes negotiated this transaction.
- A new mortgage of $5,700,000 was placed on a six-story, 32-unit multifamily property located on Simpson Street in the Bronx, NY. The loan features a rate of 3.25% and a five-year term. This transaction was negotiated by Judah Hammer and Daniel Neiss.
- A new mortgage in the amount of $1,815,000 on a four-story, 10-unit multifamily property located on Nostrand Avenue in Brooklyn, NY. The loan features a rate of 3.25% and a five-year term. Steven Rubenstein negotiated this transaction.
- A new mortgage of $1,110,000 was placed by Meridian on a three-story, five-unit multifamily property located on Powers Street in Brooklyn, NY. The loan features a rate of 3.00% and a five-year term. This transaction was negotiated by Jacob Schmuckler and Eli Serebrowski.
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GCP Capital Group arranged mortgage financing in the aggregate amount of $27,150,000 for the following properties:
- $7,700,000 for three individual commercial buildings, solely occupied by Wells Fargo Bank branches, comprised of approximately 70,000 square feet, located throughout New Jersey. Jack Fried, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
- $6,950,000 for 2 six-story mixed-use apartment buildings containing a total of 19 apartments and 4,200 square feet of commercial space, located on Market Street in Manhattan, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
- $6,500,000 for a two-story light industrial building comprised of approximately 45,800 square feet, located in the Greenpoint area of Brooklyn, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
- $6,000,000 for a two-story retail/office building comprised of 9,800 square feet, located on Queens Boulevard in Forest Hills, New York. Alan Perlmutter, Managing Member of GCP Capital Group, arranged the financing for this transaction.
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Eastern Union Funding announced the following transactions:
- An $8,500,000 first lien mortgage for the refinance of a 115-unit mixed-use on Sheridan Ave. in Bronx, NY. This transaction was arranged by Michael Muller.
- An $8,000,000 first lien mortgage for the refinance of a 50-unit multifamily on E 2nd St. in New York, NY. This transaction was arranged by Michael Muller.
- A $2,850,000 first lien mortgage for the refinance of a 6-unit multifamily on Gates Ave. in Ridgewood, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.
- A $2,475,000 first lien mortgage for the acquisition loan of a 42-unit multifamily on Roosevelt Dr. in Havertown, PA. This transaction was arranged by David Singer.
- A $1,850,000 first lien mortgage for the acquisition loan of a 80-unit multifamily on Cambridge St. in Abbeville, SC. This transaction was arranged by Ira Zlotowitz and Michael Muller.
- A $1,840,000 first lien mortgage for the refinance of a 32-unit retail property on Fulton Ave. in Hempstead, NY. This transaction was arranged by David Betesh.
- A $1,450,000 first lien mortgage for the acquisition loan of a 4-unit multifamily on Pacific St. in Brooklyn, NY. This transaction was arranged by David Metzger and Nate Hyman.
- A $1,300,000 first lien mortgage for the refinance of a 50-unit multifamily on Forrest Ave. in Calhoun, GA. This transaction was arranged by Ira Zlotowitz.
- A $1,175,000 first lien mortgage for the acquisition loan of a 3-unit multifamily on Linden St. in Brooklyn, NY. This transaction was arranged by Motti Blau and Jeffrey Seidenfeld.
- A $950,000 first lien mortgage for the refinance of a 6-unit mixed-use on 16th Ave. in Brooklyn, NY. This transaction was arranged by David Metzger and Nate Hyman.
- A $875,000 first lien mortgage for the refinance of a 3-unit multifamily on Atlantic Ave. in Brooklyn, NY. This transaction was arranged by Motti Blau and Mendy Pfeifer.
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Love Funding announced the closing of an $8.71 million loan for the acquisition and rehabilitation of Arnold Gardens, a 68-unit affordable apartment community in Suitland, Maryland. Senior Director Holly Bray secured the financing through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. Love Funding was able to combine the non-recourse FHA financing with an award of 4 percent low-income housing tax credits to help the buyer acquire the property and address the nearly $4 million in repair and improvement costs. Boston Capital agreed to purchase the tax credits.
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Pergolis Swartz Associates Inc. announced the following transactions:
- Barry Swartz closed a permanent mortgage in the amount of $6,350,000 for a package of three mixed use buildings on Sixth and Seventh Avenues in Manhattan.
- Len Solinsky arranged a permanent mortgage in the amount of $1,000,000 for a three story walk-up apartment building with 6 units on Suydam Street in Brooklyn.
- Barry Swartz obtained a permanent loan in the amount of $5,650,000 for two 4-story apartment buildings containing a total of 14 units on Avenue A in Manhattan.
- Richard Pergolis closed construction financing in the amount of $11,413,200 for a to be built 7 story condominium building with 21 units on Convent Avenue in Manhattan.
- Barry Swartz negotiated a permanent mortgage in the amount of $6,000,000 for a 5 story residential apartment building with 15 units and ground floor retail on Orchard Street in Manhattan.
- Barry Swartz obtained permanent financing in the amount of $23,500,000 for two six story residential apartment buildings containing a total of 51 units on East 18th Street in Manhattan.
