Meridian Capital revealed the following deals:
o Brand-new mortgages totaling $19,500,000 were putput on 2 multifamily homes made up of 123 devices located on Seaman Avenue in New York, NY. The loans showcase rates of 3.00 % and five-year terms. These transactions were worked out by Morris Diamant and Tzvi Krieger.
o A brand-new home mortgage in the amount of $7,400,000 on a five-story, 20-unit multifamily home located on MacDougal Street in New york city, NY. The loan includes a rate of 3.29 % and a seven-year term. Carol Shelby and Dani Sabesan negotiated this transaction.
o A brand-new home mortgage of $3,975,000 was positionedput on a five-story, 48-unit multifamily property located on Cauldwell Avenue in the Bronx, NY. The loan features a rate of 3.11 % and a five-year term. This deal was negotiated by Sidney Teichman.
o A new mortgage in the quantity of $2,750,000 on a 53-unit multifamily home located on South Clinton Street in East Orange, NJ. The loan features a rate of 3.13 % and a five-year term. Simon Rosenfeld and Jacob Salzberg negotiated this transaction.
o A brand-new home mortgage of $2,200,000 was positioned on a five-story, 26-unit multifamily property situated on Webster Opportunity in the Bronx, NY. The loan includes a rate of 3.00 % and a five-year term. This deal was worked out by David Fisher and Gary Kassirer.
o A new home loan in the quantity of $1,500,000 on a six-story, 103-unit multifamily building situated on Sherman Opportunity in New York, NY. The loan includes a rate of 3.04 % and a four-year term. Cary E. Pollack negotiated this transaction
GCP Capital Group LLC has organized home mortgage financing in the aggregate amount of $84,990,000 for the following properties:
o $64,500,000 for a portfolio of 7 multifamily apartment structures consisting of a total of 360 houses with 24,400 square feet of office space, located throughout Manhattan. Adam Brostovski, Principal of GCP Capital Group, organized the funding for this portfolio.
o $8,890,000 for a portfolio of 4 multifamily house buildings consisting of a total of 103 homes, located throughout the Bronx. Adam Brostovski organized the financing for this portfolio.
o $4,600,000 for a seven-story home building including 27 homes, situated on the Upper East Side of Manhattan. David Sessa, Elder Partner of GCP Capital Group, arranged the funding for this deal.
o $4,000,000 for a two-story office building made up of 14,000 square feet, located on Coney Island Avenue in Brooklyn. Paul Greenbaum, Handling Member of GCP Capital Group, organized the funding for this transaction.
o $3,000,000 for a four-story mixed-use building including 12 homes and approx. 3,300 square feet of office space, located on Third Avenue in Manhattan. Matthew Classi, Elder Partner of GCP Capital Group, arranged the funding for this transaction.
Houlihan-Parnes Properties put a $1,000,000 underlying co-op very first mortgage for 1506 Overing Street in the Bronx, NY. Located in the Westchester Square neighborhood of the East Bronx, the 5-story co-op structure is situated at the northwest corner of Overing Street and Frisby Street. The building is a double-wing, walk-up home structure consisting of 30 co-op apartments. The ten-year loan has a fixed rate of 4.125 % with a 30-year amortization schedule. The loan was closed with a nationwide bank with a strong regional presence. The Co-op was represented in the deal by Alan Snider, Esq.
National Cooperative Bank (NCB) stemmed $68 million in brand-new loans throughout April for 24 New York area properties: Edward Howe III, managing director of the NCB New York office, originated $50 million in brand-new loans throughout April, as well as the biggest loan of the month, a $6 million first home loan for a 146-unit co-op at 142 East 16th Street in Manhattan. Other funding activity included:
o A $5.3 million first home mortgage and a $250,000 line of credit for Mendicino Eco-friendly House Corp., a 107-unit co-op at 1570 and 1600 Grand Opportunity in North Baldwin, NY;
o A $5 million first mortgage for Bristol Home, Inc., a 71-unit co-op at 10 Nosband Avenue in White Plains, NY;
o A $4.6 million first mortgage for a 344-unit co-op at 230 Garth Roadway in Scarsdale, NY;
o A $4 million very first home mortgage for Highland Balcony Housing Development Fund Corporation, a 96-unit co-op at 101 Highland Avenue in Yonkers, NY;
o A $4 million very first home loan and $500,000 credit line for The Curtis Home Ltd., a 108-unit co-op at 123-25 82nd Avenue in Kew Gardens, NY;
o A $4 million very first home loan for a 61-unit co-op at 504 Merrick Road in Lynbrook, NY;
o A $3 million line of credit for a 216-unit co-op at 315 East 72nd Street in Manhattan;
Mindy Goldstein, a senior vice president at NCB, arranged $15.7 million in new loans throughout the month, consisting of:
o A $3.5 million first home mortgage and a $1 million line of credit for a 140-unit co-op at 333 East 53rd Street in Manhattan;
o A $3 million very first home mortgage and a $500,000 line of credit for Nagle Residence Inc., a 179-unit co-op at 240 Nagle Avenue in Manhattan;
oA $2.5 million line of credit for Collect Pond House, Inc., a 35-unit co-op at 366 Broadway in Manhattan;
o A $1.5 million first home mortgage for Ketcham Street Tenants Corp., a 64-unit co-op at 44-10 Ketcham Street in Elmhurst, NY;
oAn $800,000 third home loan for Weskora Owners Corp., a 72-unit co-op at 30 North Broadway in White Plains, NY;
NCB Vice President Harley Seligman arranged $2.4 million in new loans during April, including:
o A $1.6 million first home loan and a $500,000 credit line for a 55-unit co-op at 40 Prospect Park West in Brooklyn, NY; and
o A $250,000 first mortgage for a seven-unit co-op at 144 St. Marks Opportunity in Brooklyn.
Eastern Union Funding revealed the following deals:
o A $7,600,000 first lien mortgage for the acquisition of a 17-unit multifamily on Garfield Opportunity in Jersey City, NJ. This deal was worked out by Individual retirement account Zlotowitz and Michael Muller
o A $4,912,500 first lien mortgage for the acquisition of a 15-unit, 5-story mixed-use on Douglass Blvd. in New York, NY. This transaction was negotiated by David Metzger and Nate Hyman.
o A $2,200,000 first lien mortgage to refinance a 7-unit, 4-story mixed-use on Rogers Opportunity in Brooklyn, NY. Nate Hyman and David Metzger
o A $2,100,000 very first lien home mortgage to refinance a 15-unit, 21.5 K SF retail strip and office plaza in Norwalk, CT. This transaction was negotiated by CJ Danziger and Jonathan Singer
oA $2,230,000 first lien home mortgage for the acquisition of a 14-unit mixed-use on Amsterdam Avenue in New York, NY. This deal was negotiated by Isaac Sternhill
o A $2,500,000 first lien home mortgage to refinance a 6-unit multifamily in Ridgewood, NY. This deal was negotiated by David Eisen
o A $2,013,000 very first lien home loan for the acquisition of a single-story industrial structure in Lakewood, NJ. This Transaction was worked out by Individual retirement account Zlotowitz.
Pergolis Swartz Associates Inc. revealed the following deals:
o Barry Swartz negotiated permanent funding in the amount of $3,625,000 for a 4 story structure with 6 apartments and one store on First Avenue in Manhattan.
o Barry Swartz closed a long-term loan in the quantity of $4,500,000 for a six story structure with 10 domestic devices and 3 stores situated on Stanton Street in Manhattan.
o Barry Swartz obtained long-term financing in the quantity of $4,850,000 for a four story structure with 5 homes and 2 suppliers on Avenue A in Manhattan.
W Financial Fund has actually provided the following bridge loans:
o A $10,750,000 loan utilized for the acquisition of a one-story, industrial building located on Eleventh Opportunity in Hell’s Household kitchen. The loan was also made use of to offer working capital for the Borrower’s companies. W Financial’s loan is protected by a first mortgage loan covering both the Eleventh Avenue property along with five contiguous properties located in the Corona section of Queens. Our borrower anticipates to refinance the bridge loan with a conventional bank loan or through the sale of among his properties.
o An $8,000,000 loan collateralized by a townhouse complex in upstate New York. The completed job will consist of 396 townhouses. Phase Among the building is full and the developer is in the process of obtaining the Certifications of Occupancy for the very first 51 houses. The borrowers have finished substantial facilities work to support the advancement. The funds were utilized to refinance a $2,000,000 existing home loan and to recapture a portion of the Borrower’s initial equity financial investment. W, in addition to its parri passu participant, also holds a blanket home mortgage encumbering numerous nearby industrial and property propertieshouses as extra collateral. As the townhomes are offered, the borrowers will pay back the W Financial loan.
Meridian Capital revealed the following deals: