Meridian Capital announced the following transactions:
• $7.5 million in bridge financing for the purchase of an industrial property located at 670 East 137th Street, in the Bronx. The two-year loan, provided by a bridge lender, features a fixed rate and full-term interest-only payments. This transaction was negotiated by Michael Farkowitz and Steve Edelstein,. The property is a two-story industrial building near the History Channel building. The sponsor owns an identical asset across the street.
• A new mortgage in the amount of $9,750,000 on a six-story, 61-unit multifamily property located on Fort Washington Avenue in New York, NY. The loan features an initial rate of 2.90% and a five-year term. David Ganz and Eric Chapek negotiated this transaction.
• New mortgages totaling $29,150,000 on two multifamily properties comprised of 82 units located on West 51st Street and York Avenue in New York, NY. The loans feature rates of 3.125% and five-year terms. These transactions were negotiated by Jeff Weinberg and Simon Rosenfeld.
• A new mortgage in the amount of $12,550,000 on a six-story, 35-unit multifamily property located on Havemeyer Street in Brooklyn, NY. The loan features a rate of 3.25% and a five-year term. Morris Diamant and Jacob Rochlitz negotiated this transaction.
• A new mortgage of $10,825,000 was placed on six multifamily properties comprised of 117 units located on 22nd Street, 48th Street, Bergenline Avenue, Central Avenue and Palisade Avenue in Union City, NJ. The loan features a rate of 3.25% and a five-year term. This transaction was negotiated by Judah Hammer and Daniel Neiss.
• A new mortgage in the amount of $1,800,000 on a five-story, 28-unit multifamily property located on East 165th Street in the Bronx, NY. The loan features an initial rate of 2.90% and a five-year term. Michael Farkovits negotiated this transaction.
• Sean Robertson negotiated a new mortgage of $550,000 on a two-unit mixed-use property located on Woodward Avenue in Queens, NY. The loan features a rate of 3.125% and a three-year term.
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GCP Capital Group arranged mortgage financing in the aggregate amount of $57,725,000 for the following properties:
• $20,250,000 for a four-story, Class A, multi-tenanted office building comprised of approximately 250,600 square feet, located on Old Country Road in Westbury. Paul Greenbaum, managing member, arranged the financing.
• $15,750,000 for a brand new 29,000 s/f mixed-use building containing 35 apartments and 2 commercial units, located on Fulton Street in Brooklyn. Matthew Albano, managing director, arranged the financing.
• $14,000,000 for 2 six-story multifamily apartment buildings containing a total of 161 units, located on Highland Boulevard in Brooklyn. Adam Brostovski, principal, arranged the financing for this transaction.
• $6,150,000 for a six-story mixed-use building containing 42 apartments and 2 ground floor commercial units, located on Grand Concourse in the Bronx. Adam Brostovski arranged the financing.
• $1,575,000 for a single story commercial building operated as a gas station and convenience store, located in Yaphank, Suffolk County. Matthew Classi, managing member, arranged the financing for this transaction.
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Eastern Union Funding announced the following transactions:
• A $4,150,000 first lien mortgage for the refinance of a 19-unit multifamily portfolio in New Haven, CT. This transaction was arranged by Jonathan Singer.
• A $4,000,000 first lien mortgage for the acquisition of a 16-unit multifamily on Vanderbilt Ave. in Brooklyn, NY. This transaction was arranged by Abraham Bergman.
• A $3,600,000 first lien mortgage for the refinance of a 13,1445 sf office building on Hamilton St. in Allentown, PA. This transaction was arranged by Moti Amsel.
• A $2,850,000 first lien mortgage for the refinance of a 16-unit multifamily on Vernon Ave. in Brooklyn, NY. This transaction was arranged by David Metzger and Nate Hyman.
• A $2,822,000 first lien mortgage for the acquisition of a 27-unit, mixed-use on N Charles St. in Baltimore, MD. This transaction was arranged by Marc Tropp.
• A $2,482,000 first lien mortgage for the refinance of a 72-unit multifamily on White Stone Corner Rd. in Stroudsburg, PA. This transaction was arranged by Phil Krispin.
• A $2,437,500 first lien mortgage for the acquisition of a 33-unit multifamily on South Harrison St. in East Orange, NJ. This transaction was arranged by Jonathan Singer.
• A $1,412,000 first lien mortgage for the refinance of a 4-unit multifamily on Willoughby Ave. in Brooklyn, NY. This transaction was arranged by Jake Handelsman.
• A $1,300,000 first lien mortgage for the acquisition of a 3-unit, mixed-use on Cypress Ave. in Ridgewood, NY. This transaction was arranged by Motti Blau.
• A $1,000,000 first lien mortgage for the refinance of a 6,795 sf, 4-unit retail property on Norwood Ave. in Oakhurst, NJ. This transaction was arranged by Nate Hyman and David Metzger.
