Real estate finance

Real Estate Weekly,  Feb 5, 2003  

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Meridian Capital Group LLC announced the following transactions:

* Meridian Capital Group procured financing of $85 million on a portfolio of 5 apt. buildings in Manhattan. The loan featured a rate of 5.5% with a 12-year term. Jeffrey J. Weinberg & Moshe Majeski negotiated the transaction.

* Meridian arranged financing of $16 million on a 126,000-SF office building on Madison Avenue in Manhattan. The property will benefit from a rate of 6%, with a 7 year term. Jeffrey J. Weinberg & David Ostrov handled this transaction.

* A new mortgage of $5.3 million was placed by Meridian on a 115 unit, apt. building on Middleneck Road in Great Neck, N.Y. The loan featured a rate of 5.625% and a 7 year term. Aaron M. Birnbaum and Carol Shelby negotiated the transaction.

* Meridian negotiated a new mortgage in the amount of $3.45 million on a 90 unit, 12 story co-op building on West 85th Street Avenue in Manhattan's Upper West Side. The co-op is 90% sold and the loan featured a rate of 5.625% with a 12 year term. Allan Lieberman arranged this transaction.

* A new mortgage of $2.7 million was placed by Meridian on a 30 unit, 6 story apt. building on East 9th Street in New York City. The loan featured a rate of 5.68% and a 10 year term. Avi Weinstock negotiated the transaction.

* Meridian placed a new mortgage of $2,122,500 on a 63 unit, 5 story apt. building on West 191st Street in New York City. The loan featured a rate of 5.625% and a 7 year term. The transaction was negotiated by Saul Piller & Avi Weinstock.

National Cooperative Bank announced the following transactions:

* A $24.5 million first mortgage and a $3 million line of credit for a co-op complex on 99th St. in Rego Park, N.Y.;

* A $7 million first mortgage and a $750,000 line of credit for a co-op complex on Bryan Crescent and Bryant Ave. in White Plains, N.Y.;

* A $1.65 million first mortgage and a $100,000 line of credit for a co-op building on Randall Ave. in the Bronx;

* A $1.6 million first mortgage for a coop building on Fieldston Terrace in Riverdale, N.Y.;

* A $1.32 million first mortgage for a coop building on Highland Ave. in Jamaica Estates, N.Y.;

* An $850,000 first mortgage for a co-op building on Marine Ave. in Brooklyn, N.Y.;

* An $800,000 first mortgage for a co-op building on Decatur Ave. in the Bronx;

* A $700,000 first mortgage and a $100,000 line of credit for a co-op building on Centre Ave. in New Rochelle, N.Y.;

* A $400,000 line of credit for a co-op building at Shady Glen Court in New Rochelle, N.Y.;

* A $4.25 million first mortgage for a coop building on De Reimer Ave. in the Bronx;

* A $2.3 million first mortgage and a $750,000 line of credit for a co-op complex on Hudson St. and W. 10th St. in New York City;

* A $2.3 million first mortgage and a $200,000 line of credit for a co-op building on W. 99th St. in New York City;

* A $1.5 million line of credit for a co-op building on Riverside Drive in New York City;

* A $1 million first mortgage for a co-op building on Mercer St. in New York City;

* An $835,000 first mortgage and a $150,000 line of credit for a co-op building on W. 104th St. in New York City;

* A $650,000 first mortgage for a co-op building on W. 54th St. in New York City;

* A $625,000 first mortgage for a co-op building on North Broad St. in Elizabeth, N.J.;

* A $600,000 first mortgage and a $50,000 line of credit for a co-op building on Clinton Ave. in Brooklyn, N.Y.;

* A $150,000 line of credit for a co-op building on W. 72nd St. in New York City;

* A $3.5 million first mortgage and a $1 million line of credit for a co-op building on E. 15th St. in New York City;

* A $2 million first mortgage and a $500,000 line of credit for a co-op building on W. 111th St. in New York City;

* A $1.97 million first mortgage and a $300,000 line of credit for a co-op building on Maple Drive in Great Neck, N.Y.;

* A $1.85 million first mortgage and a $500,000 line of credit for a co-op building on River Road in Edgewater, N.J.;

* A $700,000 first mortgage for a co-op building on W. 20th St. in New York City.

Edward Howe III, managing director, Mindy Goldstein, vice president, and Sheldon Gartenstein, senior vice president, arranged the financing for these transactions.

David Cronheim Mortgage Corporation announced the following transactions:

* A $15 million loan for a luxury apartment complex on Route 202 in Branchburg, N.J. The loan featured a 15year term;

* A $7.9 million permanent loan for a garden style apartment complex in Bordentown, N.J.

Gala Resources announced the following transactions:

* An $875,000 construction loan for three multi-family buildings in Corona, N.Y.;

* A $526,500 construction loan for four multi-family buildings in Ozone Park, N.Y.;

* A $450,000 construction loan for three multi-family buildings in Brooklyn, N.Y.

GCP Capital Group LLC announced the following transactions:

* A $2.3 million loan for a six-story, 40,572 SF building on Broadway in New York City;

* A $2.3 million loan for a 41,760 SF mixed-use building on W. 181st St. in New York City;