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Developers rejigger loans following air rights deal
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Madd Equities and Joy Construction have renegotiated financing for their new DoBro apartment development after buying NYCHA air rights that will let them build bigger.
Deals & Dealmakers
TRANSACTIONS: Meridian Capital puts together a pair of $19M loans
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Meridian Capital announced the following transactions: • A new mortgage in the amount of $19,100,000 on a 151-unit multifamily property located on Somerset
Debt & Equity
TRANSACTIONS: Roundup of the week’s $1-$10 million loans
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Meridian Capital announced the following transactions: • Two new mortgages in the amount of $16,725,000 on two 131-unit multifamily properties located
Debt & Equity
TRANSACTIONS: Progress Capital secures construction loan for MADDD Equities
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Progress Capital negotiated a $4,157,000 construction to permanent loan for the development of three attached 4-story mixed-use buildings located at 139-141
Debt & Equity
TRANSACTIONS; Cronheim arranges $15M in hotel acquisition loans; Emerald Creek bridges in Park Slope
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Cronheim Hotel Capital (CHC) announced the following transactions: • Acquisition financing of $9,240,000 for the Holiday Inn Express in downtown Baltimore, MD.
Debt & Equity
TRANSACTIONS: Progress Capital secures $8.7M luxury townhouse refinance
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Progress Capital announced that Abe Mann and Brit Zamoyta secured $8,700,000 to refinance a package of two luxury townhome properties in New York City.
Construction & Design
Jersey City condo secures $26M construction loan
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Brad Domenico, partner at Progress Capital, negotiated a $26,250,000 construction to permanent loan secured by two parcels of land for construction of
Deals & Dealmakers
TRANSACTIONS: Essex Crossing senior housing gets $9M loan, Lightstone secures $36M loan for Moxy hotel
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Delancey Street Associates arranged a $8.75 million loan from Goldman Sachs CMBS group through a refinancing for the community facility portion of the
Debt & Equity
Sutton JV refinances Harlem retail
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On behalf of Jeff Sutton and Wharton Properties, Abe Mann of Progress Capital secured $23,000,000 to refinance 324 West 125th Street. Located on a prime
Debt & Equity
TRANSACTIONS: Meridian negotiates six Union City multifamily mortgages; Hakimian Capital funds Brooklyn deal
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Meridian Capital announced the following transactions: • Six new mortgages in the amount of $15,300,000 on six multifamily properties located in Union City, NJ.
Debt & Equity
Natixis provides $86M construction loan for new Sloan Kettering offices
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Natixis has provided an $86.25 million construction loan for for the built-to-suit Memorial Sloan Kettering office development at 330 East 62nd Street
Deals & Dealmakers
TRANSACTIONS: GCP arranges $12M loan in the Bronx, Meridian tackles $26M Jersey loan
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Eastern Union Funding announced the following transactions: A $5,275,000 first lien mortgage for the refinance of a multifamily on 49th Street in Brooklyn.