Transactions: Meridian’s $3M mortgage for West 76th St. property, Houlihan-Parnes arranges refi in the Bronx

Meridian announced the following transactions:

• A new mortgage of $2,975,000 was placed by Meridian on a six-story, 11-unit multifamily property located on West 76^th Street in New York, NY. The five-year loan features an initial rate of 2.625 percent. This transaction was negotiated by Shamir Seidman and Daniel Neiss.
• Meridian negotiated new mortgages totaling $13,100,000 on two multifamily properties comprised of 94 units located on Bush Street and West Tremont Avenue in the Bronx, NY. The loans feature rates of 3.14 percent and five-year terms. Judah Hammer and Daniel Neiss negotiated these transactions.
• A new mortgage of $13,000,000 was placed by Meridian on an 88-unit multifamily property located on Van Ness Court in Maplewood, NJ. The loan features a rate of 3.25 percent and a five-year term. This transaction was negotiated by Abe Hirsch and Zev Karpel.
• Meridian negotiated a new mortgage in the amount of $1,700,000 on a 23-unit multifamily property located on 28^th Street in Union City, NJ. The loan features a rate of 3.125 percent and a five-year term. Judah Hammer and Daniel Neiss negotiated this transaction.
• A new mortgage of $1,250,000 was placed by Meridian on a six-story, 42-unit multifamily property located on Livingston Street in Brooklyn, NY. The loan features a rate of 2.875 percent and a five-year term. This transaction was negotiated by Carol Shelby and Dani Sabesan.
• Meridian negotiated a new mortgage in the amount of $1,100,000 on a 12-unit multifamily property located on West 128^th Street in New York, NY. The loan features a rate of 3.23 percent and a five-year term. Shamir Seidman and Daniel Neiss negotiated this transaction.

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Houlihan-Parnes Realtors, LLC, celebrating 125 years of continuous professional service, has arranged re-financing on a 5 story walk-up apartment building located at 840 Bronx Park South, Bronx, New York.  The property contains 13 residential units and 1 store on the ground floor.   Ed Graf was the broker for this transaction.

The par, non-recourse loan of $1,500,000 was placed for a term of five years, with a five year option term. The initial term is fixed at 3.125% with a 30 year amortization schedule.  The prepayment penalty is 5 percent for the 1^st year with a declining 1 percent per year, thereafter.

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Select Commercial Funding LLC announced the following closed transactions.  All loan transactions were negotiated by Stephen A. Sobin, President and Founder of Select Commercial.

• A new mortgage in the amount of $3,000,000 secured by three multi-family properties located on Grove Street in Jersey City, New Jersey.
• A new mortgage in the amount of $1,500,000 secured by a 9-unit apartment property located on Washington Avenue in Brooklyn, NY.
• A new mortgage in the amount of $1,100,000 secured by a 25-unit apartment property located on Church Street in Patchogue, Long Island.
• A new mortgage in the amount of $1,625,000 secured by a 10-unit apartment property located on Milwood Avenue in Los Angeles, CA.
• A new mortgage in the amount of $750,000 secured by a 7-unit apartment property located on Joralemon Street in Brooklyn, NY.

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GCP Capital Group LLC, has arranged mortgage financing in the aggregate amount of $25,100,000 for the following properties:

• $9,500,000 combined financing for a portfolio of 6 multifamily apartment buildings containing a total of 138 apartments and 1 commercial space, located throughout Jersey City, New Jersey. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for these transactions.
• $5,900,000 for the 119 unsold units located within a six-story cooperative apartment building containing 207 total units, located in Yonkers, New York. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
• $4,000,000 for a four-story multifamily apartment building containing 23 units, located on Bruner Avenue in the Bronx, New York. David Sessa, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
• $3,400,000 for 2 three-story garden apartment buildings containing a total of 28 units, located in Long Beach, Nassau County, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $2,300,000 for a neighborhood strip shopping center comprised of approx. 17,200 square feet, located in Patchogue, Suffolk County, New York. George Spanos, Senior Associate of GCP Capital Group, arranged the financing for this transaction.

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Eastern Union announced the following transactions:

• An $8,500,000 first lien mortgage for the refinance of a 143,551-square-foot retail center on Browns Bridge Rd. in Gainesville, GA. This transaction was arranged by Moshe Feiner and Zakah Glaser.
• A $6,200,000 first lien mortgage for the refinance of a 6-unit mixed-use portfolio in Bronx, NY. This transaction was arranged by David Metzger and Nate Hyman.
• A $5,000,000 first lien mortgage for the acquisition of a 12-unit mixed-use on Owings Mills Blvd in Owings Mills, MD. This transaction was arranged by Marc Tropp.
• A $5,000,000 first lien mortgage for the refinance of a 70-unit multifamily on Prospect Ave. in Bronx, NY. This transaction was arranged by Michael Muller.
• A $4,775,000 first lien mortgage for the refinance of a 5-unit mixed-use on Franklin St. in New York, NY. This transaction was arranged by David Betesh.
• A $3,920,000 first lien mortgage for the refinance of a 71-unit multifamily on Cook Ave. in Meriden, CT. This transaction was arranged by Motti Blau.
• A $2,695,000 first lien mortgage for the refinance of a 7-unit multifamily on Palmetto St. in Ridgewood, NY. This transaction was arranged by Nate Hyman and David Metzger.
• A $2,122,000 first lien mortgage for the refinance of a 9-unit multifamily on Eagle Ave. in Bronx, NY. This transaction was arranged by Motti Blau.
• A $2,100,000 first lien mortgage for the acquisition of a 45-unit multifamily on Reisterstown Rd. in Baltimore, MD. This transaction was arranged by Marc Tropp.
• A $1,850000 first lien mortgage for the refinance of a 6-unit multifamily on Chauncey St. in Brooklyn, NY. This transaction was arranged by David Eisen.
• A $1,850,000 first lien mortgage for the refinance of a 66-unit multifamily on S South Shore Dr. in Chicago, IL. This transaction was arranged by Marc Tropp.
• A $1,732,500 first lien mortgage for the refinance of a 5-unit multifamily on Humboldt St. in Brooklyn, NY. This transaction was arranged by Motti Blau.
• A $1,700,000 first lien mortgage for the refinance of a 4-unit multifamily on Sumpter St. in Brooklyn, NY. This transaction was arranged by David Eisen.
• A $1,400,000 first lien mortgage for the refinance of a 9-unit mixed-use on E 138th St. in Bronx, NY. This transaction was arranged by Ira Zlotowitz and Meir Kessner.
• A $1,400,000 first lien mortgage for the acquisition of a 22-unit multifamily on Front St. in Hempstead, NY. This transaction was arranged by Jeffrey Seidenfeld.
• A $1,269,118 first lien mortgage for the refinance of a retail site on E Baseline Rd. in Mesa, AZ. This transaction was arranged by Simcha Margolis.
• A $1,150,000 first lien mortgage for the refinance of a 3-unit multifamily on Elder Ave. in Bronx, NY. This transaction was arranged by Michael Muller.
• A $1,100,000 first lien mortgage for the refinance of a 4-unit multifamily on Pulaski St. in Brooklyn, NY. This transaction was arranged by Michael Muller.
• A $1,050,000 first lien mortgage for the refinance of a 6-unit multifamily on Chauncey St. in Brooklyn, NY. This transaction was arranged by David Eisen.