Transactions: Meridian’s $2.75M mortgage for NJ property, AFC Realty Capital’s $5.4M loan for Holiday Inn Express

Meridian Capital announced the following transactions:

  • A new mortgage of $2,750,000 was placed on a two three-story multifamily properties totaling 32 units located on Rutgers Street in Belleville, NJ. The loan features a rate of 3.13% and a five-year term. This transaction was negotiated by Elliott Y. Birnbaum.
  • A new mortgage in the amount of $9,700,000 on a six-story, 81-unit multifamily property located on Elk Drive in Far Rockaway, NY. The loan features a rate of 3.38% and a five-year term. Avi Weinstock and Chaim Tessler negotiated this transaction.
  • A new mortgage of $2,715,000 was placed on a five-story, 25-unit multifamily property located on Morris Avenue in the Bronx, NY. The loan features a rate of 3.13% and a five-year term. This transaction was negotiated by Simon Rosenfeld and Jacob Salzberg.
  • A new mortgage in the amount of $2,100,000 on a four-story, eight-unit multifamily property located on Clinton Avenue in Brooklyn, NY. The loan features a rate of 3.13% and a five-year term.

    Shamir Seidman and Daniel Neiss negotiated this transaction.

  • A new mortgage of $2,000,000 was placed on a five-story, four-unit mixed-use property with 1,600 square feet of retail space located on Duane Street in New York, NY. The loan features a rate of 3.51% and a 10-year term. This transaction was negotiated by Judah Hammer and Joel Chetner.
  • A new mortgage in the amount of $1,500,000 on a four-story, five-unit multifamily property located on Avenue B in New York, NY. The loan features a rate of 3.25% and a five-year term. Judah Hammer and Joel Chetner negotiated this transaction.

AFC Realty Capital secured a $5,400,000 loan to refinance the Discount Holidays © Holiday Inn Express & Suites in Woodland, CA, a suburb of Sacramento. The hotel is a 70-room, limited service hotel which opened in 2003 and recently completed Formula Blue refurbishment. The Discount Holidays © Holiday inn Express is owned and managed by an affiliate of American Hospitality Services, Inc., a California based company that owns and manages 6 hotels in Northern California. The 10-year CMBS loan was executed at a competitive fixed-rate notes Arthur Fefferman, President / CEO of AFC.

GCP Capital Group LLC arranged mortgage financing in the aggregate amount of $55,392,500 for the following properties:

  • $16,530,000 construction financing for the development of an eight (8)-story apartment building containing 72 units, located in the Kensington section of Brooklyn, New York. Alan Perlmutter, Managing Member of GCP Capital Group, arranged the financing for this transaction.
  • $14,000,000 for a five-story apartment building containing 28 units and 3 stores, located on East Houston Street in Manhattan, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
  • $12,000,000 construction financing for the ground up development of a

72-unit garden style condominium project, located in Glen Cove, Nassau County, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.

  • $10,125,000 for 2 five-story apartment buildings containing a total of 108 apartments, located in Paterson, New Jersey. Adam Brostovski, Principal of GCP Capital Group, arranged the financing.
  • $2,737,500 for a five-story apartment building containing 20 apartments, located on West 144th Street in Manhattan, New York. Adam Brostovski arranged the financing.

Eastern Union Funding announced the following transactions:

  • A $1,575,000 first lien mortgage for the Refinance of a 8 unit Mixed-Use on Park Pl in Brooklyn, NY. This transaction was arranged by Motti Blau.
  • A $1,012,500 first lien mortgage for the Refinance of a 6 unit Mixed-Use on Orange Rd in Montclair, NJ. This transaction was arranged by Moti Amsel.
  • A $2,500,000 first lien mortgage for the Refinance of a 5 unit Multi-Family on Boerum St in Brooklyn, NY.

    This transaction was arranged by David Eisen.

  • A $1,200,000 first lien mortgage for the Acquisition of a 7 unit Multi-Family on Hancock St in Brooklyn, NY. This transaction was arranged by Motti Blau and Mendy Pfeifer.
  • A $1,650,000 first lien mortgage for the Acquisition of a 16 unit Multi-Family on Schenectady Ave in Brooklyn, NY. This transaction was arranged Motti Blau.
  • A $1,400,000 first lien mortgage for the Refinance of a 4 unit Multi-Family on Eastern Pkwy in Brooklyn, NY. This transaction was arranged by Motti Blau.
  • A $3,500,000 first lien mortgage for the Acquisition of a 24 unit Multi-Family on Menahan St in Brooklyn.This transaction was arranged by Meir Kessner,Ira Zlotowitz.
  • A $2,100,000 first lien mortgage for the Acquisition of a 7 unit Victory Villa Shopping Center in Middle River, MD. This transaction was arranged by Shai Romirowsky and Marc Tropp.

Pergolis Swartz Associates Inc. announced the following transactions:

  • Richard Pergolis negotiated a permanent mortgage of $2,100,000 for a four story apartment building with 6 units and 1 store on St. James Place in Brooklyn.
  • Barry Swartz obtained permanent financing of $2,000,000 for a five story apartment building with 16 units and 2 commercial spaces on Orchard Street in Manhattan.
  • Permanent financing in the amount of $5,000,000 was arranged by Barry Swartz for a five story walk up with 16 apartments and 2 stores on Second Avenue.

HKS Capital Partners announced the following recent transactions:

  • $40 million refinance of six contiguous mixed used buildings in the West Village. The five-year, non-recourse loan features a rate of 3.125% with full term I/O. Ayush Kapahi negotiated this transaction.
  • $30 million acquisition and renovation loan for an office building in the Garment District.

    The loan is a four-year term with 360 over LIBOR. Ayush Kapahi negotiated this transaction.

  • $18 million refinance of a five-story commercial property with 120 units at 225 over LIBOR. The loan is non-recourse and subject to 75% LTV. Interest only for the first three years, and then a 27-year amortization for the last two years. John Harrington negotiated this transaction.
  • $14 million refinance of a three-story commercial property in Great Neck, LI, with 80,000 sq. ft. medical office. The seven-year loan offers the first three being interest only. The rate is 3.50% with no fees and non-recourse.

    John Harrington negotiated this transaction.

Transactions: Meridian’s .75M Mortgage For NJ Property, AFC Realty Capital’s .4M Loan For <b><i>Discount Holidays ©</i></b> Holiday Inn Express

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