Meridian announced the following:
- A new mortgage of $12,775,000 was placed by Meridian on a six-story, 64-unit multifamily property located on Amsterdam Avenue in New York, NY. The loan features an initial rate of 2.75 percent and a three-year term. This transaction was negotiated by Jay Jacobovitch and Barry Lefkowitz.
- Meridian negotiated a new mortgage in the amount of $13,200,000 on a six-story, 94-unit multifamily property located on Montgomery Street in Brooklyn, NY. The loan features a rate of 3.125 percent and a five-year term. Morris Diamant and Joseph Akerman negotiated this transaction.
- A new mortgage of $6,190,000 was placed by Meridian on a six-story, 68-unit multifamily property located on Thayer Street in New York, NY. The loan features a rate of 3.125 percent and a five-year term. This transaction was negotiated by Morris Diamant and Tzvi Krieger.
- Meridian negotiated a new mortgage in the amount of $5,500,000 on a six-story, 62-unit multifamily property located on East Eighth Street in Brooklyn, NY. The loan features a rate of 3 percent and a five-year term. Avi Weinstock and Michael Farkovits negotiated this transaction.
- A new mortgage of $4,000,000 was placed by Meridian on a six-story, 20-unit multifamily property located on First Avenue in New York, NY. The loan features a rate of 2.90 percent and a five-year term. This transaction was negotiated by Morris Diamant and Ben Piller.
- Meridian negotiated a new mortgage in the amount of $2,200,000 on a four-story, 16-unit multifamily property located on 85th Street in Brooklyn, NY. The loan features a rate of 3 percent and a five-year term. Scott Assouline and Jacob Nefoussi negotiated this transaction.
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Silver Arch Capital Partners has completed a 12 month, $3.5 Million loan secured by a first mortgage on a luxury condominium unit located in Chicago’s Gold Coast. Jeffrey Wolfer, President of the Hackensack, NJ-based private lender, said the property is currently unencumbered and the loan will provide funds to the borrower to complete the purchase of another property, as well as fund reserves and closing costs.
The property is a three bedroom, four bath condominium unit located in an eight-story building.
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GCP Capital Group LLC, has arranged mortgage financing in the aggregate amount of $21,320,000 for the following properties:
- $9,600,000 combined financing for 2 six-story apartment buildings containing a total of 159 units and 2 offices, located in Queens, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for these transactions.
- $5,200,000 for a newly constructed mixed-use building containing 32 apartments and 2 ground floor retail tenants, located in Bayshore, Suffolk County, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
- A second mortgage in the amount of $4,000,000 for a six-story apartment building containing 33 units and 12,500 square feet of commercial space, located on the Upper East Side of Manhattan. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
- $1,470,000 for a five-story apartment building containing 16 units, located on East 187th Street in the Bronx, New York. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
- $1,050,000 for a one-story commercial building comprised of 1,500 square feet, located in Smithtown, Suffolk County, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
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Eastern Union Funding has arranged a $70 million construction loan to finance developer Moses Bensusan’s completion of the Meliá Costa Hollywood Beach Resort, a $180 million, 307-room condo hotel under development in Hollywood Beach, Fla.
Eastern Union Funding senior loan consultant CJ Danziger and managing partner Meir Kessner originated the deal on behalf of the borrower, Bensusan’s Hollywood-based Liberty Grande LLC. The loan was placed with Madison Realty Capital.
The six-story, beachfront property is located at 777 North Ocean Drive. It topped out last year, and completion is expected by year’s end. The units are currently 85 percent sold.
Meliá Costa Hollywood Beach Resort offers studio, one-bedroom, two-bedroom, and three-bedroom units. Amenities include a state-of-the-art fitness center and holistic spa; exclusive boutiques and restaurants; a rooftop infinity-edge pool, sun deck, and reflection pool; rooftop and lobby lounges; and an open courtyard.
The property, conveniently located between Miami and Palm Beach, is only 20 minutes to Fort Lauderdale-Hollywood International Airport and offers easy access to U.S. Route 1, Interstate 95, and the historic Hollywood downtown shopping and entertainment district.
A $10,000,000 first lien mortgage for the refinance of a 25-unit multifamily on Walton St. in Brooklyn, NY. This transaction was arranged by Nate Hyman and David Metzger.
A $5,350,000 first lien mortgage for the acquisition of a 55-unit mixed-use on Sheridan Ave. in Bronx, NY. This transaction was arranged by Michael Muller.
A $3,701,250 first lien mortgage for the acquisition of a 33-unit multifamily on S. 48th St Philadelphia, PA,S 50th St Philadelphia, PA. This transaction was arranged by Meir Kessner.
A $2,500,000 first lien mortgage for the refinance of a 134,257-square-foot retail center on Derr Road in Springfield, OH. This transaction was arranged by Marc Tropp.
A $1,522,500 first lien mortgage for the refinance of a 26-unit multifamily on Delaware St. in Woodbury, NJ. This transaction was arranged by David Metzger and Nate Hyman.
A $1,500,000 first lien mortgage for the acquisition of a 21-unit mixed-use on Yonkers Ave. in Yonkers, NY. This transaction was arranged by Motti Blau.
A $1,400,000 first lien mortgage for the refinance of a 5-unit multifamily on Melrose St. in Brooklyn, NY. This transaction was arranged by David Metzger and Nate Hyman,.
A $1,325,000 first lien mortgage for the refinance of a 6-unit multi-family on Ocean Ave. in Jersey City, NJ. This transaction was arranged by Michael Muller and Ira Zlotowitz.
A $1,128,000 first lien mortgage for the acquisition of a 65,541-square-foot retail center on Benson St. in Hartwell, GA. This transaction was arranged by Marc Tropp.
A $1,000,000 first lien mortgage for the refinance of a 17-unit multi-family on 45th St. in Astoria, NY. This transaction was arranged by Simcha Margolis.
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Dansker Realty Capital LLC provided a bridge loan in the amount of $1,175,000 for the acquisition of a six unit multifamily on 19th Street in Astoria Queens. The transaction was arranged by Lowell Dansker, Principal.
