W Monetary supplied the next bridge loans, which have been dealt with by Jarret Schochet, David Heiden, Andrew Singer and TJ Randall:
• An $11,200,000 first mortgage building loan secured by a seven-building, 72-unit, for-sale townhome mission lin Glen Cove, NY. The whole loan quantity was $16 million, with one other lender having a $4,800,000 junior place. W Monetary funded an preliminary draw of $6,098,357 on the closing, as the event is mid-construction and the junior participant had already closed on the deal and had been funding building attracts earlier than bringing W into the deal. W Monetary will fund further building attracts as progress is made and verified after which expects to be repaid with the sale of the townhouses.
• A $2,500,000 bridge loan secured by a primary mortgage on a mixed-use property with 5 residential models and a ground-floor retail area, positioned on West 44th Avenue in Midtown West. The borrower had no debt on the property and wanted to entry a few of his fairness. He plans to market the constructing on the market within the close to future after which plans to repay the W Monetary loan when the sale closes.
• A $1,000,000 bridge loan secured by a primary mortgage on a 2-bedroom, 2-bath apartment positioned on the 41st flooring of a 42-story, 250-unit, luxurious constructing in Murray Hill. The borrower wanted the proceeds of the bridge loan by year-end for tax functions.
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Victory Capital introduced the next transactions:
• A $1,100,000 loan with a five-year time period at a 4% fee to refinance a vacant, three-story, mixed-use dwelling with two, two-bedroom flats and one business unit for use as a restaurant. The property, positioned in Bensonhurst, Brooklyn, is an 80% full apartment mission. The constructing might be an over 10,000 s/f, eight-unit, four-story walkup residential constructing. Michael Bivona organized the transaction.
• Michael Bivona and Max Goveia organized a $3,400,000 loan at fastened 4.75% fee for five years and 25 12 months amortization with a neighborhood Financial institution. The property is positioned in Bushwick. The 10,000 s/f constructing is one-story with three business models and 100 toes of retailer frontage. Two models are leased and the third unit is being marketed.
• A $5,300,000 loan at 4.5% with two years of curiosity solely, collateralized by a four-story, blended use dwelling in Tribeca. The constructing consists of three residential models and one business unit, all of which have been vacant and gutted on the time of closing. The sponsor wanted funding to renovate and stabilize the property.
• $1,900,000 collateralized by three single household properties in Nice Neck, Kew Gardens, and Faculty Level. Every loan was fastened for seven years at a collective fee of 4.2%.
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GCP Capital Group organized mortgage financing for the next properties:
• $10,130,000 for a portfolio of 5 multifamily condominium buildings containing a complete of 105 models and 1,360 s/f of economic area, positioned all through Higher Manhattan, New York. Adam Brostovski organized the financing.
• $6,700,000 for a two-story retail/workplace constructing comprised of 28,000 sq. toes, positioned within the Allerton neighborhood of the Bronx. Alan Perlmutter organized the financing.
• $6,675,000 for an eight-story mixed-use constructing containing 6 residential models and three business models, positioned on Fifth Avenue in Manhattan. Matthew Classi organized the financing for this transaction.
• $4,600,000 for a four-story mixed-use constructing containing 37 residential models and three,440 sq. toes of retail area, positioned on East 12th Avenue in Brooklyn. Paul Greenbaum organized the financing.
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Guardhill Financial introduced the next transactions:
• A brand new mortgage within the quantity of $2,000,000. The loan is a 30-year fastened with an 80% loan-to-value on the acquisition of a 3-family residence.
• A brand new mortgage within the quantity of $1,990,000. The loan is a fee and time period refinance of an investor-owned co-op.
• A brand new mortgage within the quantity of $1,400,000. The loan is a fee and time period refinance to a 10/1 interest-only mortgage. The borrower certified utilizing asset depletion for revenue.
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Meridian Capital introduced the next transactions:
• A brand new mortgage of $9,600,000 on a 62-unit multifamily positioned on Pelham Parkway South within the Bronx. The loan encompasses a fee of three.25% and a seven-year time period. This transaction was negotiated by Moe Rosenblum.
• A brand new $7,000,000 mortgage on a 147-unit co-op positioned on Pearsall Avenue in Glen Cove, NY. The loan encompasses a fee of three.30% and a 10-year time period. Avi Geller and Nicoletta M. Pagnotta negotiated this transaction.
• A brand new $5,425,000 mortgage on a 9-unit multifamily positioned on East seventh Avenue in New York. The loan encompasses a fee of three.30% and a seven-year time period. This transaction was negotiated by Shamir Seidman and Daniel Neiss.
• A $4,950,000 new mortgage on a 43-unit multifamily property positioned on Hull Avenue within the Bronx, NY. The loan encompasses a fee of three.25% and a seven-year time period. Moe Rosenblum negotiated this transaction.
• A brand new mortgage of $1,975,000 was positioned on a 12-unit multifamily property on East 142nd Avenue within the Bronx. The loan encompasses a fee of three.25% and a seven-year time period. This transaction was negotiated by Morris Diamant and Tzvi Krieger.
• A brand new mortgage of $1,500,000 on a six-unit mixed-use property positioned on Rockaway Boulevard in Jamaica, NY. The loan encompasses a fee of three.17% and a 10-year time period. David Oheb negotiated this transaction.
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Japanese Union Funding introduced the next transactions:
• A $13,000,000 first lien mortgage for the refinance of a 45-unit land property Brooklyn, NY. This transaction was organized by David Eisen.
• A $7,200,000 first lien mortgage for the refinance of a 47-unit multifamily property in Bronx, NY. This transaction was organized by Ira Zlotowitz, Abraham Bergman, Michael Muller.
• A 5,550,000 first lien mortgage for the refinance of a 123-unit multifamily property on in Independence, MO. This transaction was organized by Jeffrey Seidenfeld and Marc Wingate.
• A $2,725,000 first lien mortgage for the refinance of a 8-unit multifamily property in Brooklyn,NY. This transaction was organized by Jay Tyberg.
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