Meridian Capital Group announced the following transactions:
- A new mortgage of $4,300,000 was placed on a five-story, 20-unit mixed-use property with 2,100 square feet of retail space located on West 36th Street in New York, NY. The loan features a rate of 2.50% and a five-year term. This transaction was negotiated by Shamir Seidman and Daniel Neiss.
- A new mortgage in the amount of $25,000,000 on a six-story, 47-unit multifamily property located on Union Avenue in Brooklyn, NY. The loan features a rate of 3.00% and a three-year term. Shamir Seidman and Daniel Neiss negotiated this transaction.
- A new mortgage of $7,400,000 was placed on a five-story, 36-unit multifamily property located on East 10th Street in New York, NY. The loan features a rate of 2.75% and a four-year term. This transaction was negotiated by Judah Hammer and Daniel Neiss.
- New mortgages totaling $6,100,000 on two four-story multifamily properties composed of 76 units located on Carroll Street and East 96th Street in Brooklyn, NY. The loans feature rates of 3.00% and five-year terms. David Hayum and Jacob Fischer negotiated these transactions.
- A new mortgage of $5,200,000 was placed on a 50 unit mixed-use property with 4,500 square feet of retail space located on Ward Avenue in Bronx, NY. The loan features a rate of 3.00% and a five-year term. This transaction was negotiated by Alan Friedman and Eric Chapek.
- A new mortgage in the amount of $5,000,000 on a 17-story, 117,000 square feet office property located on West 38th Street in New York, NY. The loan features a rate of 2.90% and a three-year term. Morris Diamant and Tzvi Krieger negotiated this transaction.
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GCP Capital Group LLC, has arranged mortgage financing in the aggregate amount of $107,650,000 for the following properties:
- $74,000,000 for the construction of an 8-story, 197-unit mixed-use residential building with ground floor retail, located in the Greenpoint section of Brooklyn, New York. Alan Perlmutter, Managing Member of GCP Capital Group, arranged the financing for this transaction.
- A $12,600,000 construction loan for the development of an 8-story luxury residential building containing 50 apartments and 1 retail unit, located on Atlantic Avenue in Brooklyn, New York. Matthew Albano, Senior Broker of GCP Capital Group, arranged the financing for this transaction.
- $8,500,000 combined financing for two retail condominium units of 3,150 square feet on Hudson Street and a retail unit of 3,700 square feet on Lafayette Street in Manhattan, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for these transactions.
- $7,500,000 for the development of a three-story commercial building comprised of approx. 21,000 square feet, located on Roosevelt Avenue in Queens, New York. Paul Greenbaum arranged the financing for this property.
- $5,050,000 for a six-story multifamily apartment building containing 46 apartments and 2 commercial units, located on East 178th Street in the Bronx, New York. Stephen Katz, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
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Love Funding announced the closing of three loans totaling $4.72 million to refinance affordable apartment communities in Kentucky managed by the same company.
- The Kentucky apartment communities being refinanced are Williamsburg Terrace Apartments in Paris, Sycamore Terrace Apartments in Shelbyville, and Pine Crest Apartments I & II in Elizabethtown. All three are managed by Southcreek Management Company and were refinanced by Love Funding senior director Tammy Tate through the U.S. Department of Housing and Urban Development’s 223(f) loan insurance program.
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Walker & Dunlop, Inc. has closed a $3,389,300 loan in Vancouver, Washington, for Arbor Ridge Assisted Living with the Vancouver Housing Authority. This is the first Rental Assistance Demonstration (RAD) transaction the Company and HUD’s Lean 232 program has completed for healthcare facilities. The loan was written to a 78.5% loan-to-value and 1.45 debt service coverage ratio. Michael Vaughn, senior vice president, led the Walker & Dunlop team.
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Eastern Union Funding announced the following transactions:
- A $22,950,000 first lien mortgage to refinance a 546-unit multifamily property in Lindenwold, NJ. This transaction was negotiated by Eli Breiner.
- A $16,250,000 first lien mortgage to refinance a 54-unit multifamily portfolio in Union City, NJ. This transaction was negotiated by Michael Muller.
- A $14,000,000 first lien mortgage to refinance a 50-unit multifamily property on Roebling Street in Brooklyn, NY. This transaction was negotiated by Jonathan Singer.
- A $7,000,000 first lien mortgage to refinance a 23-unit office building on 8th Avenue in Brooklyn, NY. This transaction was negotiated by Moshe Lipschitz and Michael Muller.
- A $4,000,000 first lien mortgage to refinance a 12-unit multifamily in Bronx, NY. This transaction was negotiated by Ira Zlotowitz and Meir Kessner.
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Pergolis Swartz Associates Inc. announced the following transactions:
- Barry Swartz negotiated permanent financing in the amount of $1,100,000 for a five story walk up apartment building containing 19 units on East 91st Street in Manhattan.
- Michael Volpe arranged interim financing in the amount of $2,000,000 for four newly completed residential houses in Little Neck, New York.
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