Meridian Capital announced the following transactions:
• A new mortgage in the amount of $6,950,000 on a six-story, 34-unit multifamily property located on Southern Boulevard in the Bronx, NY. The loan features an initial rate of 3.37% and a three-year term. Alan Friedman and Eric Chapek negotiated this transaction.
• $6,600,000 was placed on a five-story, 70-unit multifamily property located on Monterey Avenue in the Bronx, NY. The loan features an initial rate of 3.50% and a three-year term. This transaction was negotiated by Morris Diamant and Jacob Rochlitz.
• A new mortgage in the amount of $5,200,000 on a five-story, 40-unit multifamily property located on Hart Street in Brooklyn, NY. The loan features an initial rate of 3.75% and a seven-year term. Michael Farkovits negotiated this transaction.
• A new mortgage of $3,200,000 was placed on a five-story, 26-unit multifamily property located on Academy Street in New York, NY. The loan features an initial rate of 3.625% and a five-year term. This transaction was negotiated by David Hayum and Luke Hingson.
• A new mortgage in the amount of $2,600,000 on a retail property with 3,500 square feet located on 80th Street in Queens, NY. The loan features an initial rate of 3.625% and a five-year term. Morris Diamant and Joseph Akerman negotiated this transaction.
• A new mortgage of $1,800,000 was placed on a four-story, 25-unit multifamily property located on 43rd Street in Brooklyn, NY. The loan features an initial rate of 3.75% and a five-year term. This transaction was negotiated by Jacob Schmuckler and Sam Shifer.
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G.S. Wilcox & Co. completed $6,000,000 in financing for a five-building industrial portfolio located in the City of Orange, New Jersey. The majority of the properties have 22 ft. ceiling heights and all together total just over 115,000 s/f. The private equity firm, which has invested in numerous commercial real estate properties, saw the potential to increase the value of the portfolio. The financing was arranged by Gretchen S. Wilcox, President, and Al Raymond, Principal.
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GCP Capital Group LLC, arranged mortgage financing in the aggregate amount of $39,600,000 for the following properties:
• $14,000,000 for a six-story multifamily apartment building containing 99 units and 2,000 square feet of commercial space, located on West 147th Street in Manhattan. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
• $7,700,000 for a five-story multifamily apartment building containing 44 units and 3,200 square feet of commercial space, located on 51st Street in Queens. Alan Perlmutter, Managing Member, arranged the financing.
• $6,000,000 for a four-story multifamily apartment building containing 53 units, located in Port Chester, New York. Paul Greenbaum, Managing Member, arranged the financing for this transaction.
•$6,000,000 combined financing for two fully occupied multi-family buildings containing a total of 10 units, located in the Williamsburg section of Brooklyn and the Hell’s Kitchen neighborhood of Manhattan. David Sessa, Senior Associate of GCP Capital Group, arranged the financing for these transactions.
• $5,900,000 combined financing for three mixed-use buildings containing a total of 7 apartments and 5,000 square feet of commercial space, located in the Park Slope and Prospect Heights sections of Brooklyn. Matthew Classi, Managing Member and Jack Fried, Senior Associate of GCP Capital Group, arranged the financing.
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Eastern Union Funding arranged the following in acquisition financing:
• A $15,750,000 first lien mortgage for the acquisition of a 148-unit multifamily on Easton Rd. in Warrington, PA. This transaction was arranged by Nate Hyman and David Metzger.
• A $4,760,000 first lien mortgage for the acquisition of a 48-unit multifamily on Old Nyack Turnpike in Spring Valley, NY. This transaction was arranged by Nate Hyman and David Metzger.
• A $2,300,000 first lien mortgage for the acquisition of a mixed-use comprising 12 residential units and 4 commercial units on Bruckner Blvd. in Bronx, NY. This transaction was arranged by Michael Muller.
• A $1,400,000 first lien mortgage for the acquisition of a 13-unit multifamily on Fountain Ave. in Brooklyn, NY. This transaction was arranged by Mendy Pfeifer.
• A $1,235,000 first lien mortgage for the acquisition of a 3-unit, mixed-use on Elm Ave. in Brooklyn, NY. This transaction was arranged by Jack Beida.
• A $824,000 first lien mortgage for the acquisition of a 13-unit multifamily on Eaton Pl. in East Orange, NJ. This transaction was arranged by Michael Muller.
