Meridian Capital announced the following transactions:
- New mortgages totaling $8,250,000 were placed on four multifamily properties composed of 194 units located on Gerard, Hoe and Vyse Avenues in the Bronx, NY. The loans feature fixed-rates of 2.88% and five-year terms. These transactions were negotiated by Scott Assouline and Jacob Nefoussi.
- A new mortgage in the amount of $30,870,000 on a 316-unit multifamily property located on Hamilton Avenue in Staten Island, NY. The loan features a rate of 3.40% and a seven-year term. Israel Schubert and David Cohen negotiated this transaction.
- A new mortgage of $26,500,000 was placed on a six-story, 140-unit multifamily property located on Shore Road in Brooklyn, NY. The loan features a rate of 3.00% and a five-year term. This transaction was negotiated by Joseph Taub and Eric Chapek.
- A new mortgage in the amount of $8,500,000 on a six-story, 19-unit multifamily property located on First Avenue in New York, NY. The loan features a rate of 3.25% and a five-year term. Bryan Geffen and Brian Flax negotiated this transaction.
- A new mortgage of $6,200,000 was placed on a six-story, 16-unit multifamily property located on Mulberry Street in New York, NY. The loan features a rate of 3.38% and a three-year term. This transaction was negotiated by Cary E. Pollack and Steven Cohen.
- Anew mortgage in the amount of $2,200,000 on a six-story, 30-unit multifamily property on East 165th Street in the Bronx, NY. The loan features a rate of 2.88% and a five-year term. This transaction was negotiated by Scott Assouline and Jacob Nefoussi.
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GCP Capital Group arranged mortgage financing in the aggregate amount of $81,730,000 for the following properties:
- $64,500,000 for a portfolio of 9 multifamily apartment buildings containing a total of 419 apartments and 52 commercial units, located throughout Manhattan, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this portfolio.
- $8,500,000 for a one-story commercial retail building comprised of approx. 158,000 gross square feet and containing 8 stores, located in Holbrook, Suffolk County, New York. Alan Perlmutter, Managing Member of GCP Capital Group, arranged the financing for this property.
- $3,800,000 for a five-story apartment building containing 43 units, located on Fulton Avenue in the Bronx, New York. David Sessa, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
- $2,930,000 for a six-story apartment building containing 20 apartments and 2,550 square feet of commercial space, located on Crescent Avenue in the Bronx, New York. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
- $2,000,000 for the development of an existing one-story plus mezzanine commercial building into a residential luxury condominium project, located in Long Island City, Queens, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this property.
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Eastern Union Funding announced the following transactions:
- A $27,200,000 first lien mortgage to refinance a skilled nursing home in Astoria, NY. This transaction was negotiated by Jonathan singer and Abraham Bergman
- A $1,200,000 first lien mortgage to refinance a single-tenant on Page Avenue in Staten Island, NY. This transaction was negotiated by Abraham Bergman and Meir Kessner
- A $1,700,000 first lien mortgage to refinance an eight-unit multifamily on Gates Avenue in Brooklyn, NY. This transaction was negotiated by Jeffrey Seidenfeld
- A $1,100,000 first lien mortgage to refinance a three-unit mixed-use on Vernon Blvd. in Long Island City, NY. This transaction was negotiated by Ken Goldstein
- A $5,787,500 first lien mortgage to refinance 23 multifamily luxury rental units on Boerum Street in Brooklyn, NY. This transaction was negotiated by Meir Kessner and David Eisen
- A $1,625,000 first lien mortgage to refinance an 11-unit mixed-use on Palisade Avenue in Union City, NJ. This transaction was negotiated by Ira Zlotowitz and Michael Muller
- A $6,500,000 first lien mortgage to refinance a 78-unit mixed-use on N 3rd street in Brooklyn, NY. This transaction was negotiated by Nate Hyman and David Metzger.
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National Cooperative Bank (NCB) announced that the Bank originated $22.4 million in new loans during September for 16 New York area properties.
Vice President Harley Seligman originated $15 million in new financing during September, including the largest loan: a $7.5 million first mortgage and $1 million line of credit for Birchwood on the Green Owners Corp., a 335-unit co-op at 2800 Wilshire Lane in Oakdale, NY. Other financing during the month included:
- A $3 million line of credit for The Nevada Owners, Inc., a 233-unit co-op at 2025 Broadway in Manhattan;
- A $1 million first mortgage and $250,000 line of credit for Bellcourt Owners, Inc., a 35-unit co-op at 36-06 213th Street in Bayside, NY;
- A $500,000 line of credit for a 35-unit co-op at 519 East 86th Street in Manhattan;
- A $500,000 line of credit for a 45-unit co-op at 600 West 115th Street in Manhattan;
- A $300,000 first mortgage and a $100,000 line of credit for Eine Kleine Brownstone, Inc., an eight-unit co-op at 28 West 78th Street in Manhattan;
- A $300,000 first mortgage for a four-unit co-op at 292 Garfield Place in Brooklyn, NY;
- A $300,000 first mortgage for a nine-unit co-op at 332 West 101st Street in Manhattan; and
- A $250,000 first mortgage for a five-unit co-op at 162 Columbia Heights in Brooklyn, NY.
Senior Vice President Mindy Goldstein arranged $6.9 million during the month, including:
- A $1.5 million first mortgage and $250,000 line of credit for 131 West Owners Corp., a 40-unit co-op at 131 West 85th Street in Manhattan;
- A $1.4 million third mortgage for a 39-unit co-op at 1608 Ocean Parkway in Brooklyn, NY;
- A $1.1 million first mortgage for Teliman Holding Corp., a four-unit co-op at 100 Greene Street in Manhattan;
- $1 million line of credit for a 78-unit co-op at 245 West 104th Street;
- A $975,000 term loan for Norfolk Atrium Condominium, a 24-unit condo at 115 Norfolk Street in Manhattan; and
- A $700,000 third mortgage for a 53-unit co-op at 221 East 78th Street in Manhattan.
Edward Howe III, managing director of NCB’s New York office, arranged a $500,000 line of credit for Fairfield Owners Corp., a 60-unit co-op at 640 West 231st Street in Riverdale, NY.
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Pergolis Swartz Associates Inc. closed on the following transactions:
- Barry Swartz closed a permanent mortgage in the amount of $6,000,000 for a six story apartment building containing 35 residential units and 6 stores on Second Avenue in Manhattan.
- Michael Volpe negotiated permanent financing in the amount of $4,500,000 for nine 3-family homes, 27 residential units, located on East 221st Street and East 232nd in the Bronx.
- Len Solinsky arranged construction financing in the amount of $2,200,000 for a to be built 10 unit residential apartment building on Gates Avenue in Brooklyn.
