TRANSACTIONS: Who’s borrowing what from whom

Meridian Capital Group announced the following transactions:
• New mortgages totaling $15,150,000 on two six-story multifamily properties composed of 113 units located on Park Lane South and 108th Street in Queens, NY. The loans feature rates of 3.00% and five-year terms. These transactions were negotiated by Morris Diamant and Tzvi Krieger.
• A new mortgage in the amount of $5,650,000 on a five-story, 52-unit multifamily property located on Tiebout Avenue in the Bronx, NY. The loan features a rate of 3.00% and a five-year term. Zev Feder negotiated this transaction.
• A new mortgage of $4,000,000 was placed on a 12-story, 66-unit cooperative property located on West End Avenue in New York, NY. The loan features a rate of 3.25% and a 10-year term. This transaction was negotiated by Steve Geller and Nicoletta M. Pagnotta.
• A new mortgage in the amount of $3,800,000 on a six-story, 47-unit multifamily property located on Amersfort Place in Brooklyn, NY. The loan features a rate of 3.00% and a five-year term. Zev Feder negotiated this transaction.
• A new mortgage of $3,100,000 was placed on a two-story, 16-unit multifamily property located on Brighton 7th Street in Brooklyn, NY. The loan features a rate of 3.13% and a five-year term. This transaction was negotiated by David Zlotnick and Sam Shifer.
• A new mortgage in the amount of $2,140,000 on a four-story, 24-unit multifamily property located on East 19th Street in Brooklyn, NY. The loan features a rate of 3.13% and a five-year term. Avi Weinstock and Chaim Tessler negotiated this transaction.
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Jeremiah A. Houlihan of Houlihan-Parnes Realtors, LLC has arranged a loan secured by a 1st mortgage in the amount of $500,000 encumbering a property located at 51 Van Cortlandt Park Avenue, Yonkers, NY improved with a 3-story walk-up apartment building constructed in 1965. There are 7 apartments and on-site outdoor parking spots. The loan was placed with a Savings Bank at a 10-year fixed interest rate on a 25-year amortization schedule. The lender charged a no commitment fee and the loan has a sliding scale penalty in the case of prepayment.
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GCP Capital Group LLC has arranged mortgage financing in the aggregate amount of $53,700,000 for the following properties:
• $27,400,000 for a garden style apartment complex comprised of 24 two-story buildings containing a total of 338 apartments, located in Toms River, New Jersey. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
• $13,000,000 combined financing for a package of 7 residential buildings undergoing renovation that will contain a total of 52 apartments, located throughout Brooklyn and Queens, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for these properties.
• $5,800,000 for a five-story mixed-use building containing 8 apartments and 1,600 square feet of retail space, located on the Lower East Side of Manhattan, New York. Paul Greenbaum arranged the financing for this property.
• $4,100,000 for a six-story multifamily building containing 9 apartments and 1 commercial unit, located on West 235th Street in the Bronx, New York. David Sessa, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
• $3,400,000 for a five-story apartment building containing 26 apartments, located on West 172nd Street in Manhattan, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this property.
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Eastern Union Funding announced the following transactions:
• A $25,600,000 first lien mortgage for the acquisition of a mixed-use, with 144 residential units and 23 commercial spaces, in Bronx, NY. This transaction was negotiated by Ira Zlotowitz and Michael Muller
• A $1,600,000 first lien mortgage to refinance a three-unit multifamily on Chauncey Street in Brooklyn, NY. This transaction was negotiated by Jay Tyberg and Abe Kolman
• A $1,500,000 first lien mortgage for the acquisition of a three-unit mixed-use on Flatbush Avenue in Brooklyn, NY. This transaction was negotiated by Michael Muller and Mike Orlik
• A $1,400,000 first lien mortgage to refinance a five-unit multifamily on Pacific Street in Brooklyn, NY. This transaction was negotiated by Jonathan Singer
• A $2,500,000 first lien mortgage to refinance a five-unit mixed-use on Woodward Avenue in Ridgewood, NY. This transaction was negotiated by David Metzger and Nate Hyman
• A $1,600,000 first lien mortgage to refinance a seven-unit mixed-use on Morris Park Avenue in Bronx, NY. This transaction was negotiated by Moshe Lipschitz and Jack Beida
• A $2,350,000 first lien mortgage to refinance an 8,500 SF single-tenant property on Church Avenue in Brooklyn, NY. This transaction was negotiated by Nate Hyman and David Metzger.