Meridian Capital announced the following transactions:
• A new mortgage of $2,500,000 was placed on a four-story, 34-unit mixed-use property located on 80th Street in Queens, NY. The loan features a rate of 2.75% and a four-year term. This transaction was negotiated by Joseph Taub and Eric Chapek.
• A new mortgage in the amount of $10,250,000 on a six-story, 96-unit multifamily property located on Avenue K in Brooklyn, NY. The loan features a rate of 3.00% and a five-year term. Avi Weinstock and Chaim Tessler negotiated this transaction.
• A new mortgage of $9,000,000 was placed on a six-story, 98-unit multifamily property located on Lamont Avenue in Queens, NY. The loan features a rate of 2.88% and a five-year term. This transaction was negotiated by Judah Hammer and Daniel Neiss.
• A new mortgage in the amount of $7,950,000 on a four-story, 74-unit multifamily property located on Bronx River Avenue in the Bronx, NY. The loan features a rate of 3.00% and a five-year term. Jay Jacobovitch and Barry Lefkowitz negotiated this transaction.
• A new mortgage of $3,300,000 on a four-story, 35-unit multifamily property located on West 9th Street in Brooklyn, NY. The loan features a rate of 3.00% and a five-year term. This transaction was negotiated by Morris Diamant and Jacob Rochlitz.
• A new mortgage in the amount of $2,600,000 on a six-story, 70-unit cooperative property located on Brighton 6th Street in Brooklyn, NY. The loan features a rate of 3.13% and a seven-year term. Allan Lieberman and Asher Haft negotiated this transaction.
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Cushman & Wakefield closed $8.1 million construction/rehab refinancing, collateralized by a 33,000 s/f corner retail property in Prospect Park South, Brooklyn. The loan funded 100% of the project costs, and featured a 3-year term, with extensions, at an interest rate of LIBOR + 4.25 bps. The project involves a significant renovation of an existing building in a prime location. Preston Flammang handled this transaction.
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GCP Capital Group arranged mortgage financing in the aggregate amount of $46,800,000 for the following properties:
• $12,000,000 for a single-story, retail shopping center comprised of approx. 76,560 square feet, located on Long Island, New York. Alan Perlmutter, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $11,000,000 for a three-story apartment building containing 78 apartments, located in Hempstead, Nassau County, New York. Matthew Albano, Senior Broker of GCP Capital Group, arranged the financing for this property.
• $10,800,000 combined financing for 2 four-story apartment buildings containing a total of 67 apartments and 2 retail units, located in Brooklyn, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for these properties.
• $7,500,000 for three retail condominium units comprised of approx. 9,400 square feet located at the base of a luxury condominium apartment building on Central Park North in Manhattan, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $5,500,000 for a seven-story apartment building containing 56 apartments, located on Brooklyn Avenue in Brooklyn, New York. Paul Greenbaum arranged the financing.
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Eastern Union Funding announced the following transactions:
• A $1,275,000 first lien mortgage to refinance a 3-unit multifamily property on 11th Street in Brooklyn, NY. This transaction was negotiated by David Metzger and Nate Hyman.
• A $1,435,000 first lien mortgage to refinance a pair of multifamily properties, totaling 6-units, on Suydam Street and Melrose Street in Brooklyn, NY. This transaction was negotiated by Jake Gluck and Jeff Seidenfeld.
• A $1,750,000 first lien mortgage to refinance a 3-unit multifamily property in Ozone Park, NY. This transaction was negotiated by Moshe Lipschitz.
• A $4,500,000 first lien mortgage to refinance a 9-unit mixed-use on S 4th Street in Brooklyn, NY. This transaction was negotiated by Mendy Pfeifer and Jonathan Singer.
• A $6,500,000 first lien mortgage to refinance an 88-unit multifamily on Main Street in Pleasantville, NJ. This transaction was negotiated by Michael Muller.
• A $2,000,000 first lien mortgage to refinance a 4-unit multifamily property on Scholes Street in Brooklyn, NY. This transaction was negotiated by David Eisen.
• A $2,500,000 first lien mortgage to refinance a 45-unit mixed-use on Gelston Avenue in Brooklyn, NY. This transaction was negotiated by Moshe Lipschitz.
• A $2,240,000 first lien mortgage to refinance a 6-unit mixed-use on Central Avenue in Brooklyn, NY. This transaction was negotiated by David Metzger and Nate Hyman.
• A $2,100,000 first lien mortgage to refinance a 6-unit mixed-use on Newkirk Avenue in Brooklyn, NY. this transaction was negotiated by Nate Hyman and David Metzger.
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Pergolis Swartz Associates Inc. announced the following assignments:
• Barry Swartz closed a permanent loan of $4,500,000 for a five story building with 20 apartments on East 102nd Street in Manhattan.
• Michael Volpe obtained interim financing in the amount of $1,400,000 for the acquisition of a three family building on Devoe Street in Brooklyn.
• Michael Volpe arranged permanent financing in the amount of $1,500,000 for two contiguous two-family properties on 12th Street in Astoria.
