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Meridian’s $9.5M Mortgage In Bronx, GCP’s $54.7M In Financing

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Meridian Capital announced the following transactions:

  • A new mortgage in the amount of $2,300,000 on a 50-unit multifamily property located on Berkley Road in Paulsboro, NJ. The loan features a rate of 3.20% and a five-year term. Charles Nussbaum negotiated this transaction.
  • A new mortgage of $9,500,000 was placed by Meridian on a five-story, 54-unit multifamily property located on Jesup Avenue in Bronx, NY. The loan features a rate of 3.25% and a five-year term. This transaction was negotiated by Ami Levin.
  • A new mortgage in the amount of $8,000,000 on a six-story, 26-unit multifamily property located on East 60th Street in New York, NY. The loan features a rate of 3.25% and a two-year term. Michael Kesselman and Kerry Brick negotiated this transaction.
  • A new mortgage of $6,700,000 was placed by Meridian on a ten-unit multifamily property located on Hawthorne Street in Brooklyn, NY. The loan features a rate of 3.25% and a five-year term. This transaction was negotiated by Isaac Filler and Michael Helmreich.
  • A new mortgage in the amount of $5,350,000 on an 80-unit multifamily property located on South Bridge Street in Somerville, NJ. The loan features a rate of 3.45% and a seven-year term. Elliot Birnbaum and Kerry Brick negotiated this transaction.
  • A new mortgage of $4,725,000 was placed on a 17-unit multifamily property located on Lafayette Avenue in Brooklyn, NY. The loan features a rate of 3.45% and a five-year term. This transaction was negotiated by Alan Friedman and Eric Chapek.

GCP Capital Group has arranged mortgage financing in the aggregate amount of $54,700,000 for the following properties:

  • $16,500,000 combined financing for 2 single-story commercial buildings containing a total of 29,900 square feet, located in the Williamsburg and Brighton Beach sections of Brooklyn, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for these transactions.
  • $15,000,000 combined financing for a package of 9 five-story multifamily apartment buildings containing a total of 240 units, located throughout Bronx, New York. Adam Brostovski, Principal, arranged the financing for these transactions.
  • $9,500,000 for a portfolio of three contiguous five-story mixed-use buildings containing a total of 31 apartments and approx. 5,900 square feet of commercial space, located on West 14th Street in Manhattan, New York. Adam Brostovski arranged the financing for this transaction.
  • $8,500,000 for a newly developed two-story commercial building comprised of approx. 27,400 square feet, located on St. Marks Avenue in Brooklyn, New York. Paul Greenbaum arranged the financing for this transaction.
  • $5,200,000 combined financing for 2 four-story mixed-use buildings containing a total of 4 apartments and 1,650 square feet of commercial space, located on Bergen Street in Brooklyn, New York. Jack Fried, Senior Associate, and Matthew Classi, Managing Member, arranged the financing.

Emerald Creek Capital provided a $3,250,000 loan for the refinance of a 14,698 s/f warehouse in the primarily commercial and industrial neighborhood of Sunset Park in Brooklyn, NY. The subject property is currently utilized for flex-industrial use and features 3,500 s/f of mezzanine loft space including three private offices. The subject property is located just outside of Manhattan with access via the Brooklyn Bridge and the Brooklyn Battery Tunnel.

Eastern Union Funding announced the following transactions:

  • A $4,000,000 first lien mortgage for the refinance of a 24-unit multifamily on Menahan St. in Brooklyn, NY. This transaction was arranged by Meir Kessner and Ira Zlotowitz.
  • Nate Hyman and David Metzger arranged a $3,200,000 first lien mortgage for the refinance of a 8-unit multifamily on Melrose St. in Brooklyn, NY.
  • A $2,720,000 first lien mortgage for the refinance of a 40-unit multifamily on Hoffnagle St. in Philadelphia, PA. This transaction was arranged by CJ Danziger and Jeffrey Seidenfeld.
  • A $2,500,000 first lien mortgage for the refinance of a 24-unit multifamily on 23rd St. in Astoria, NY. This transaction was arranged by Herman Werzberger.
  • A $2,374,000 first lien mortgage for the acquisition of a 13-unit multifamily on Lamont St. NW in Washington, DC. This transaction was arranged by Marc Tropp and Shai Romirowsky.
  • Abe Kolman arranged a $2,080,000 first lien mortgage for the acquisition of a 10-unit multifamily on Franklin Ave. in Brooklyn, NY. A $1,360,000 first lien mortgage for the acquisition of an 8-unit multifamily on Jefferson Ave. in Brooklyn, NY.
  • A $1,318,400 first lien mortgage for the acquisition of a 6-unit multifamily on Pennsylvania Ave Brooklyn, NY. This transaction was arranged by Abe Kolman.
  • A $1,200,000 first lien mortgage for the refinance of a 6-unit multifamily on Prospect St. in Trenton, NJ. This transaction was arranged by Nate Hyman and David Metzger.
  • A $1,200,000 first lien mortgage for the refinance of a 9-unit multifamily on E 147th St. in Bronx, NY. This transaction was arranged by Michael Muller,Jeffrey Seidenfeld and CJ Danziger.
  • A $1,115,000 first lien mortgage for the refinance of a 3-unit multifamily on Winthrop St. in Brooklyn, NY. This transaction was arranged by Moshe Lipschitz.
  • A $1,100,000 first lien mortgage for the acquisition of a 7-unit mixed-use on Penn St. in Brooklyn, NY. This transaction was arranged by Nate Hyman and David Metzger.
  • A $1,025,000 first lien mortgage for the refinance of a 6-unit multifamily on Sheridan Ave in Brooklyn, NY. This transaction was arranged by Mendy Pfeifer.

Kennedy Funding Financial closed a $1.705 million loan to EW Acquisition LLC. The will be used for working capital and for improvements in the development, The Seasons at East Windsor. The 89,038 s/f facility will be on a 3.97-acre property, with 121 units and 148 beds. The facility will have both assisted living and memory care housing.

 

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Peter Milosheff

acquired Bronx.com in March, 2005 and manages the The Bronx Times.™ content and operations since as the neswpapers' owner and founding editor. Alongside with managing The Bronx Times.™, Peter worked in the area of corporate finance for Christie's New York, Prada, Pfizer, Deutsche Bank, Fortis Bank and BNP Paribas. At Moody's Investors Service and Deutsche Bank he worked in the areas of structured products revenue accounting and asset management, respectively. At Fortis Bank he worked in the area of product control for the structured credit origination and trading deask. At BNP Paribas Peter worked as a trading assistant at the bank's flow fixed income trading desk. Peter began his entrepreneurial career at age 17 in Sofia, Bulgaria, EU, where he established his private educational advising agency Endeavour, providing service to local students interested in continuing their education abroad, and particularly in the US.. Peter received a Bachelor of Science in Business Administration degree from Slippery Rock University of Pennsylvania in the Spring of 2002. He graduated Cum Laude with a major in Finance.