TRANSACTIONS: W Financial, HKS Capital, Eastern Union and more

Meridian Capital announced the following transactions:
• A new mortgage of $5,600,000 was placed on a six-story, 30-unit multifamily property located on St. Nicholas Avenue in New York, NY. The loan features a rate of 2.75% and a four-year term. This transaction was negotiated by Shamir Seidman and Daniel Neiss.
• New mortgages totaling $37,050,000 on four multifamily properties and two mixed-use properties composed of 181 units and 8,850 square feet of retail space located on Madison Avenue, West 151st Street and East 5th Street in New York, NY, Nelson Avenue and Third Avenue in the Bronx, NY and Roosevelt Avenue in Flushing, NY. The loans feature rates of 2.90% and five-year terms. David Hayum and Moe Rosenblum negotiated these transactions.
• New mortgages totaling $18,279,000 were placed by Meridian on 10 multifamily properties composed of 196 units located on East 10th Street, Avenue A, East 92nd Street, St. Marks Place, East 13th Street, and Second Avenue in New York, NY. The loans feature rates of 3.00% and five-year terms. These transactions were negotiated by David Zlotnick and Sam Shifer.
• A new mortgage in the amount of $9,450,000 on a six-story, 26-unit multifamily property located on La Salle Street Avenue in New York, NY. The loan features a rate of 2.88% and a five-year term. David Hayum and Jacob Fischer negotiated this transaction.
• A new mortgage of $9,000,000 was placed on a five-story, 49- unit multifamily property located on Fourth Avenue in Brooklyn, NY. The loan features a rate of 3.00% and a five-year term. This transaction was negotiated by Joseph Taub.
• A new mortgage in the amount of $4,515,000 on a five-story, 20-unit multifamily property located on East 93rd Street in New York, NY. The loan features a rate of 2.75% and a five-year term. Zev Feder and Brian Ladenheim negotiated this transaction.
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Cushman & Wakefield closed a $2.24 million cash-out refinance, collateralized by an approximately 5,000 s/f mixed-use property in Brooklyn’s Bushwick neighborhood. The loan featured a 5-year term with 25-year amortization. The principals purchased the property in May of 2014 for $1.8 million. They renovated the residential units and updated the building to significantly increase the overall rental income. Jessica Ke exclusively handled this transaction.
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GCP Capital Group arranged mortgage financing in the aggregate amount of $109,412,500 for the following properties:
• $70,000,000 for a 16-story commercial building containing approx. 10,050 square feet of retail space and approx. 164,000 square feet of office space, located in the Midtown South section of Manhattan, New York. Alan Perlmutter, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $17,062,500 for a package of six apartment buildings containing a total of 188 apartments and 5 commercial units, located throughout the Bronx, New York. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this portfolio.
• $11,000,000 for a five-story and eight-story apartment building containing 99 apartments located in Mount Vernon, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $5,850,000 combined financing for 2 five-story apartment buildings containing a total of 44 apartments and 7,200 square feet of commercial space, located on Ryer and Valentine Avenues in the Bronx, New York. Adam Brostovski arranged the financing for these transactions.
• $5,500,000 for a six-story apartment building containing 54 apartments, located on Barnes Avenue in the Bronx, New York. Paul Greenbaum arranged the financing for this transaction.
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Eastern Union arranged the following transactions:
• A $28,800,000 first lien mortgage for acquisition of a 430-unit mixed-use in Newark, NJ. This transaction was negotiated by Nate Hyman and David Metzger.
• A $9,000,000 first lien mortgage for the acquisition of a 119-unit apartment complex in Roselle Park, NJ. This transaction was negotiated by Michael Muller
• A $6,600,000 first lien mortgage for the acquisition of an 8-unit mixed use on Manhattan Avenue in Brooklyn. This transaction was negotiated by Michael Muller
• A $5,000,000 first lien mortgage for the acquisition of a 50-unit mixed-use in the Bronx. This transaction was negotiated by Ira Zlotowitz, Abraham Bergman and Michael Muller
• A $3,600,000 first lien mortgage for the refinance of a 2-story office building in Lakewood, NJ. This transaction was negotiated by Eli Breiner
• A $3,000,000 first lien mortgage for the refinance of a 16-unit, four-story mixed-use building in Philadelphia. This transaction was negotiated by Marc Tropp
• A $2,325,000 first lien mortgage for the refinance of a 6-unit multifamily on Suydam Street in Brooklyn. This transaction was negotiated by David Metzger and Nate Hyman
• A $2,550,000 first lien mortgage for the acquisition of a 21-unit multifamily in Far Rockaway, NY. This transaction was negotiated by Jack Beida
• A $3,300,000 first lien mortgage for the refinance of a 36K SF 5-story office building in Far Rockaway. This transaction was negotiated by Michael Muller
• A $2,000,000 first lien mortgage for the refinance of a 3-story mixed use building on 60th Street in Brooklyn. This transaction was negotiated by Michael Muller
• A $1,800,000 first lien mortgage for the refinance of a 3-story office building in Mount Vernon, NJ. This transaction was negotiated by Abraham Bergman and Sender Deutsch.
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HKS Capital Partners announced the following recent transactions:
• $22 million permanent financing of a multifamily property in the Bronx comprised of 118 residential units and three commercial units. The loan features a rate of 4% with a term of 10 years, 30-year am schedule. Ayush Kapahi negotiated this deal
• $20 million mortgage loan for a hotel in the heart of Times Square. The loan features a rate of 3.36% with a term of 10 years, 10 years I/O. Ayush Kapahi negotiated this deal.
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W Financial Fund has provided the following bridge loans:
• A $2,750,000 bridge loan for the acquisition of a six-story commercial property located in the Bay Ridge neighborhood of Brooklyn. The borrower required a bridge loan in order to close quickly and plans to build out the ground floor retail space and then market the space for rent. Eventually the owner intends to obtain conventional financing with a local bank.
• $2,000,000 additional funding for an existing $12,000,000 loan secured by six contiguous mixed-use properties located on West 28th Street in the Flower/Flatiron District of Manhattan. During the loan term thus far, the borrower has increased the rent roll by replacing expiring leases with new tenants paying market rents. In addition, the borrower has negotiated two buyout agreements with IMD tenants. W Financial had provided the original $12,000,000 acquisition loan with a two-year term, which anticipated this additional funding of up to $2,000,000, which would be available to be utilized by the borrower for a period of up to 18 months to fund such tenant buyouts to further enhance the value of the property.
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Pergolis Swartz Associates Inc. announced the following transactions:
• Barry Swartz closed a permanent loan in the amount of $2,700,000 for a 4 story walk up apartment building with 9 units on West 21st Street in Manhattan.
• Barry Swartz negotiated a permanent loan in the amount of $2,900,000 for a five story apartment building with 10 residential units on East 10th Street in Manhattan.
• Barry Swartz arranged for permanent financing in the amount of $4,600,000 for three 5-story walk up apartment buildings with a total of 25 units and 6 stores located on Amsterdam Avenue in Manhattan.