Meridian Capital Group, LLC announced the following transactions:
• A new mortgage of $2,100,000 on a 45-unit, four-story multifamily building located on Ocean Avenue in Brooklyn, NY. The loan features a rate of 2.85% and a five-year term. Cary Pollack negotiated this transaction.
• A new mortgage of $9,250,000 was placed on a 32-unit, four-story multifamily building located on Manhattan Avenue in Brooklyn, NY. The loan features a rate of 3.05% and a five-year term. Charles Grussgott negotiated this transaction.
• A new mortgage of $8,300,000 on nine cooperative buildings totaling 162-units located on Westend Avenue in Freeport, NY. The loan features a rate of 3.63% and a 10-year term. Jacob Schmuckler negotiated this transaction.
• New mortgages totaling $6,750,000 were placed on two mixed-use buildings totaling 12 units and two retail spaces and two multifamily buildings totaling 26 units. The properties are located on Fifth Avenue, East 125th Street and West 145th Street in New York, NY. The loans feature rates of 3.65% and 10-year terms. Simon Rosenfeld and Kyle Friedland negotiated these transactions.
• New mortgages totaling $6,150,000 on two multifamily buildings totaling 109 units located on 21st Avenue in Brooklyn and Charlton Street in New York, NY. The loans feature rates of 3.08% and seven-year terms. Dan Blumenthal and Joseph Taub negotiated these transactions.
• A new mortgage of $1,850,000 was placed on an 18-unit, four-story multifamily building located on East 98th Street in Brooklyn, NY. The loan features a rate of 3.00% and a 10-year term. Morris Diamant negotiated this transaction.
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Pergolis Swartz Associates Inc. announced the following transactions:
• Permanent financing in the amount of $11,250,000 was arranged by Barry Swartz for four 5-story mixed use buildings on Third Avenue in Manhattan.
• Construction financing in the amount of $2,225,000 was obtained by Len Solinsky for ground up construction of a seven story elevator building containing 13 apartments and one commercial space located on Myrtle Avenue in Brooklyn.
• Michael Volpe closed a permanent loan in the amount of $1,100,000 for a six family apartment building on Freeman Street in Brooklyn.
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National Cooperative Bank (NCB) completed a $6.2 million financing transaction for Bottino Holdings, a Wakefern Cooperative Member that operates the Shop-Rite Supermarket on Delsea Drive in Vineland, New Jersey. The Bank provided a portion of the financing for Bottino to refinance a bridge loan from The Reinvestment Fund (TRF) and partially refinance a New Market Tax Credit associated with this transaction. The infusion of funds allowed Bottino Holdings to move forward with its plans to replace its existing Shop-Rite supermarket with a new facility for its customers. Barry Silver, executive vice president of NCB, made the announcement.
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Hudson Realty Capital LLC (Hudson) funded a $5.3 million first-mortgage acquisition loan secured by a 72-unit multi-family portfolio in Queens, N.Y. Loan proceeds will be used to undertake renovations and implement building management best practices portfolio-wide. The repeat borrower is an experienced real estate operator with a solid track record of renovating and managing similar properties. Spencer Garfield, Hudson’s managing director, announced the transaction.
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HKS Capital Partners LLC announced the following recent transactions:
• A $6.6 million permanent financing at 3.325% and a seven-year-term on a 14-unit multi-family residential property located in the lower east side of New York, NY. Ayush Kapahi brokered this transaction.
• A $1.36 million permanent financing at 4.25% and a ten-year-term on a four story, 12 unit mixed-use building, located in the Gun Hill Road section of the Bronx, NY. Jonathan Harrington brokered this transaction.
• A $2.5 million permanent financing at 4.5% and a fifteen-year-term on four commercial spaces located in the Williamsburg section of Brooklyn, NY. Michael Lee successfully brokered this transaction.
• A $1.470 million loan financing at 3.8% and a ten-year-term on this five unit office with retail space building with 6,750 square feet in the Flatbush section of Brooklyn, NY. Jonathan Harrington brokered this transaction.
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GCP Capital Group LLC has arranged mortgage financing in the aggregate amount of $52,300,000 for the following properties:
• $39,000,000 for a portfolio of five multi-family properties containing a total of 363 apartments, located throughout Suffolk County, New York. Matthew Albano, senior broker of GCP Capital Group, arranged the financing for this transaction.
• $6,000,000 for a six-story mixed-use building containing 25 apartments and 2 commercial units, located on Rivington Street in Manhattan, New York. Matthew Albano arranged the financing.
• $3,950,000 for a four-story apartment building containing 44 units, located in New Rochelle, New York. Paul Greenbaum, managing member of GCP Capital Group, arranged the financing.
• $2,050,000 for a six-story apartment building containing 23 apartments, located on West 147th Street in Manhattan, New York. Adam Brostovski, principal, arranged the financing for this transaction.
• $1,300,000 for a one-story retail building occupied by Dunkin Donuts/Baskin Robbins, located in Hicksville, Nassau 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:
• A $8,900,000 first lien mortgage for the refinance of a mixed use property on Webster Avenue in Brooklyn, NY. This transaction was arranged by Michael Muller.
• A $6,100,000 first lien mortgage for the refinance of a multifamily property on Bushwick Avenue in Brooklyn, NY. This transaction was arranged by David Metzger and Nate Hyman.
• A $2,750,000 first lien mortgage for the refinance of an industrial warehouse on Bond Street in Brooklyn, NY. This transaction was arranged by Michael Muller.
• A $1,500,000 first lien mortgage for the refinance of a multifamily property on East 237th Street in Bronx, NY. This transaction was arranged by Jonathan Singer.
