Meridian Capital announced the following transactions:
• A new mortgage of $1,500,000 was placed on a five-story, 10-unit multifamily property located on Hicks Street in Brooklyn, NY. The loan features a rate of 2.75% and a four-year term. This transaction was negotiated by Judah Hammer and Daniel Neiss.
• A new mortgage in the amount of $8,025,000 on a 115-unit multifamily property located on North Broad Street in Elizabeth, NJ. The loan features a rate of 3.00% and a five-year term. Elliott Y. Birnbaum and Ariel Jeidel negotiated this transaction.
• A new mortgage of $7,500,000 was placed on a six-story, 70-unit multifamily property located on Ocean Avenue in Brooklyn, NY. The loan features a rate of 2.88% and a five-year term. This transaction was negotiated by Morris Diamant and Tzvi Krieger.
• A new mortgage in the amount of $7,000,000 on a six-story, 20-unit mixed-use property located on Bushwick Avenue in Brooklyn, NY. The loan features a rate of 3.00% and a five-year term. Morris Diamant and Steven Ribiat negotiated this transaction.
• A new mortgage of $5,325,000 was placed on a six-story, 46-unit multifamily property located on Frisby Avenue in the Bronx, NY. The loan features a rate of 3.00% and a five-year term. This transaction was negotiated by Moe Rosenblum.
• A new mortgage in the amount of $3,675,000 on a five-story, 27-unit multifamily property located on Decatur Avenue in the Bronx, NY. The loan features a rate of 3.00% and a five-year term. Simon Rosenfeld and Jacob Salzberg negotiated this transaction.
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GCP Capital Group arranged mortgage financing in the aggregate amount of $24,552,500 for the following properties:
• $5,662,500 for a six-story apartment building containing 28 apartments and 2 stores, located on West 144th Street in Manhattan, New York. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
• $5,500,000 for the development of an existing four-story apartment building with 16 apartments, located on the Upper East Side of New York. Adam Brostovski arranged the financing for this transaction.
• $5,350,000 for three contiguous multifamily buildings containing a total of 35 apartments, located in the Clinton Hill section of Brooklyn, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $4,540,000 combined financing for 3 multifamily buildings containing a total of 13 apartments and 2 stores, located throughout Brooklyn and Queens, New York. Matthew Albano, Senior Broker of GCP Capital Group, arranged the financing for these transactions.
• $3,500,000 for a four-story townhouse located on Henry Street in Brooklyn and a single family home located in Forest Hills, Queens, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
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Pembrook Capital Management LLC announced the closing of a $5.45 million first mortgage loan for 27 Prince Street, a mixed use property in the Nolita neighborhood of Manhattan. The sponsor plans on recapitalizing the property as well as using the proceeds to buy out an existing limited partner. 27 Prince Street is an approximately 10,000 s/f, five-story walk-up building, comprised of 13 one-bedroom apartment units and 1,300 s/f of ground floor retail, leased to Prince Street Pizza and Han Kjobenhavn USA, a Danish boutique clothing and eyewear store. Terence Baydala, Managing Director, Originations, of Pembrook, made the announcement.
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Eastern Union Funding arranged the following transactions:
• An $8,960,000 first lien mortgage to refinance a 60-unit mixed-use on Franklin Avenue in Bronx, NY. This transaction was negotiated by Dov Zabrowsky, Ira Zlotowitz and Michael Muller
• A $5,040,000 first lien mortgage to refinance a 39-unit multifamily on Ocean Avenue in Brooklyn, NY. This transaction was negotiated by Dov Zabrowsky, Ira Zlotowitz and Michael Muller
• A $4,385,000 first lien mortgage to refinance a multifamily and mixed-use portfolio totaling 26 units, located in New York and Brooklyn, NY. This transaction was negotiated by Alex Freund
• A $4,000,000 first lien mortgage to refinance an 8-unit mixed-use on Main Street in Flushing, NY. This transaction was negotiated by Jay Tyberg, Tzvi Greenwald and Abe Kolman
• A $4,000,000 first lien mortgage for the acquisition of a 165,000 retail plaza in Baldwinsville, NY. This transaction was negotiated by Jake Handelsman
• A $2,437,500 first lien mortgage for the acquisition of a 22-unit multifamily on Grand Avenue in Bronx, NY. This transaction was negotiated by Jonathan Singer
• A $2,380,000 first lien mortgage for the acquisition of a 6-unit multifamily on N. 7th Street in Brooklyn, NY. This transaction was negotiated by David Metzger and Nate Hyman.
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Houlihan-Parnes Realtors announced the following transactions:
• The refinancing of a $934,000 first mortgage on the 7,500 s/f one-story retail building located at 579-585 Central Park Avenue in Yonkers, New York. The five-year, non-recourse loan has a fixed rate of 3.75% with a 30-year amortization schedule. The loan, closed with a local bank, is prepayable throughout the term on a declining scale and the Borrower has an option to extend the loan for an additional five years. The Borrower was represented in the transaction by Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP.
• The refinancing of a $1,930,000 first mortgage on the 17,390 s/f Ardsley Shopping Center located at 717-725 Saw Mill River Road in Ardsley, New York. The five-year, non-recourse loan has a fixed rate of 3.75% with a 30-year amortization schedule. The loan, closed with a local bank, is prepayable throughout the term on a declining scale and the Borrower has an option to extend the loan for an additional five years. The Borrower was represented in the transaction by Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP.
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Pergolis Swartz Associates Inc. announced the following transactions:
• Len Solinsky closed an acquisition loan in the amount of $1,650,000 for a six family multi-family property on Sterling Place in Brooklyn.
• Barry Swartz negotiated a permanent mortgage in the amount of $4,050,000 for a four story office building with 12 offices, a 57 car parking garage, 70 exterior parking spaces and 5 roof antennas located on Linden Blvd. in Elmont, New York.
• Barry Swartz negotiated a permanent mortgage in the amount of $2,800,000 for a five story building with 8 apartments and 2 stores on East 1st Street in Manhattan.
