Finance: Real Estate

Real Estate Weekly,  August 14, 2002  

• E-mail
• Print
• Link

Meridian Capital Group LLC announced the following transactions:

* Meridian procured a new mortgage of $15 million on an 83 unit, 12 story luxury apartment building on West 90th Street in Manhattan. The loan featured a LIBOR based interest rate and a 10 year term. The transaction was negotiated by Joseph Taub and Carol Shelby.

* A new mortgage of $5 million was placed by Meridian on a 236 unit, 6 story multifamily building on Burns Street in Forest Hills, NY. The loan featured a rate of 6.5%, interest only, and a 7 year term. Avi Weinstock negotiated the transaction.

* Meridian negotiated new loans totaling $4.1 million on (3) - 4 story buildings located in Brooklyn, NY. The loan featured rates of 6.5% with 10 year terms. David Ganz arranged for the financing.

* A new mortgage was arranged by Meridian for $1.8 million on a 148,000 square foot industrial building on Roebling Street in Brooklyn, NY. The property will benefit from a rate of 7.5%, with a 15-year term. Arthur Preisler handled this transaction.

* Acquisition financing of $1.24 million was placed by Meridian Capital on a 38 unit, 5 story multifamily building on Andrews Avenue North in the Bronx. The loan representing 80% LTV featured a rate of 5.81% and a 10 year term. The transaction was negotiated by Allan Lieberman.

* Meridian negotiated a new mortgage in the amount of $1 million on a 48 unit, 6 story co-op building on Beach 121st St. in Belle Harbor, NY. The co-op is 100% sold and the loan featured a rate of 6.875% with a 15-year term. Jeffrey J. Weinberg, David Ostrov negotiated this transaction.

Emigrant Funding Corporation announced the following transactions:

* A $225,000 loan for a four-story, walk-up apartment building in Brooklyn, N.Y.;

* A $350,000 loan for a mixed-use elevator building in Staten Island, N.Y.;

* A $175,000 loan for a four-story apartment building in Brooklyn, N.Y.;

* A $225,000 loan for a two-story apartment building in Brooklyn, N.Y.;

* A $175,000 loan for a four-story, co-op apartment building in New York City;

* A $400,000 loan for a nine-story co-op building in New York City;

* A $272,300 acquisition loan for a two-story, walk-up apartment building in Newark, N.J.;

* A $550,000 acquisition loan for a two-story apartment building in Queens Village, N.Y.;

* A $650,000 loan for a three-story, mixed-use building in New York City;

* A $330,000 acquisition loan for a two-story, mixed-use building in North Lindenhurst, N.J.;

* A $150,000 loan for a single-story commercial building in Whitestone, N.Y.,

* A $155,000 loan for a single-story commercial building in Bellmore, N.Y.;

* A $137,150 loan for a two-story, mixed-use building in North Bergen, NJ.;

* A $499,000 loan for a four-story apartment building in Brooklyn, N.Y.;

* A $350,000 loan for a four-story, walk-up building in New York City;

* A $150,000 acquisition loan for a two-story, mixed-use building in Bergen, N.J.;

* A $280,000 loan for a three-story, mixed-use building in Jersey City, N.J.;

* A $150,000 loan for a three-story apartment building in Brooklyn, N.Y.;

* A $180,000 loan for a two-story, mixed-use building in Forest Hills, N.Y.;

* A $202,500 acquisition loan for a three-story apartment building in Brooklyn, N.Y.;

* A $460,000 acquisition loan for a three-story apartment building in Staten Island, N.Y.;

* A $160,000 acquisition loan for a two-story, mixed-use building in Staten Island, N.Y.;

* A $1.8 million loan for a ten-story, mixed-use building in New York City;

* A $1.5 million loan for a two-story commercial building in Brooklyn, N.Y.;

* A $150,000 loan for a two-story commercial building in Red Bank, NJ.;

* A $285,000 loan for a two-story, mixed-use building in Milltown, NJ.;

* A $160,000 loan for a three-story apartment building in Union City, NJ.;

* A $650,000 loan for a five-story apartment building in New York City;

* A $384,000 acquisition loan for a three-story, mixed-use building in Queens, N.J.

Houlihan-Parnes Realtors, LLC/iCap Realty Advisors announced the following transactions:

* A $675,000 acquisition loan for a three-story apartment building on Gavin St. in Yonkers, N.Y. The loan featured a 7.375% rate, a 10-year term, and a 30-year amortization schedule. Jeremiah A. Houlihan arranged the financing for this transaction;

* A $2.6 million first mortgage for a 12,300 SF retail building on White Plains Road in the Bronx. The loan featured a 7.25% rate, a 12-year term, and a 25-year amortization schedule.

Colonial Group Ltd. arranged a $5 million loan for a seven-story retail/office building on Jamaica Ave. in Queens, N.Y. Jerry Kaidanow arranged the financing for this transaction.

Pergolis Swartz Associates, Inc. announced the following transactions:

* A $3.2 million permanent loan for an apartment complex in Plainfield, N.J. Ray Mindell arranged the financing for this transaction;

* A $2.475 million construction loan for an apartment building in Riverdale, N.Y. Richard Pergolis arranged the financing for this transaction;