Real estate

Real Estate Weekly, Jan 30, 2002

Meridian Capital Group announced the following transactions:

* A new mortgage of $20.48 million was placed by Meridian on a package of 20 multifamily buildings located in the Bronx. The loan featured a rate of 6.25% and a 10 year term. The buildings are managed by Langsam Properties. The transaction was negotiated by Michael Kesselman.

* A $12 million mortgage for a 126,824 SF commercial building on Broadway in New York City. The loan featured a 6.75% rate and a 10-year term. Cary E. Pollack arranged the financing for this transaction;

* A $6 million mortgage for a six-story multifamily building on 31st St. in Astoria, N.Y. The loan featured a 6.25% rate and a 10-year term. Avi Weinstock arranged the financing for this transaction;

* A $5.6 million mortgage for a six-story multifamily building on Gravesend Neck Road in Brooklyn, N.Y. The loan featured a 5.723% rate and a 10-year term. Jeffrey J. Weinberg arranged the financing for this transaction;

* A $4.24 million mortgage for a six-story multifamily building on West End Ave. in New York City. The loan featured a 6.5% rate and a 10-year term. Avi Weinstock arranged the financing for this transaction;

* A $2.4 million mortgage for a six-story multi-family building on Claflin Ave. in the Bronx. The loan featured a 6.75% rate and a 10-year term. Avi Weinstock and Saul Piller arranged the financing for this transaction;

* A $2 million mortgage for a six-story elevator apartment building on Brooklyn Ave. in Brooklyn, N.Y. The loan featured a 6.32% rate and a 10-year term. David Ostrov and Samuel M. Spinner arranged the financing for this transaction.

David Cronheim Mortgage Corporation has recently secured permanent financing of $37.5 million for Northampton Crossing, a dominant regional shopping center located in Easton, Penn. and acquisition financing of $22.8 million for Seaview Estates, a 316-unit apartment complex located in Staten Island, NY. The loan with a ten-year term and thirty-year amortization schedule, financed the acquisition of the property by the borrower, St. Marks Hamilton, LLC. In addition to arranging the financing, Cronheim also brokered the $28.5 million sale of Seaview Estates.

Pergolis Swartz announced the following transactions:

* A $1 million permanent first mortgage for a garden apartment complex in Sayville, N.J. Barry Swartz arranged the financing for this transaction;

* A $1 million permanent financing for a garden apartment complex in Holbrook, N.Y. David Tobin and Barry Swartz arranged the financing for this transaction;

* A $1.5 million permanent first mortgage for a 17,000 SF shopping center in Lake Ronkonkoma, N.Y. David Tobin arranged the financing for this transaction;

* A $1.4 million permanent loan for an elevator apartment building in New York City. Barry Swartz arranged the financing for this transaction;

* A $2.315 million acquisition loan for a garden apartment complex in St. Albans, N.Y. David Tobin arranged the financing for this transaction;

* An $11.5 million permanent mortgage for a residential building on Park Ave. South in New York City. Richard Pergolis and Barry Swartz arranged the financing for this transaction;

* A $1.8 million permanent first mortgage for a seven-story, 17,500 SF medical office building on the Upper East Side in New York City. David Tobin arranged the financing for this transaction;

* A $7.32 million financing for four six-story elevator apartment building in the Bronx. David Tobin arranged the financing for this transaction;

* A $1.7 million permanent first mortgage for a 22,000 SF distribution center/office building in Westbury, N.Y. David Tobin arranged the financing for this transaction;

* A $1.8 million financing for four five-story walk-up apartment buildings on the Upper West Side in New York City. Richard Pergolis arranged the financing for this transaction;

* A $1.425 million permanent mortgage for a five-story walk-up townhouse on the Upper West Side in New York City. Richard Pergolis and Barry Swartz arranged the financing for this transaction.

* A $1.2 million permanent first mortgage for a 15,000 SF retail strip in Port Jefferson, N.Y. David Tobin arranged the financing for this transaction.

Houlihan-Parnes Realtors, LLC/iCap Realty Advisors arranged a $3.3 million first mortgage for a four-story, 45,000 SF office building at 12 Water St. in White Plains, N.Y. The loan featured a 10-year term.

The Singer & Bassuk Organization arranged a $56 million construction financing for a 21-story luxury condominium at 400 W. 51st St. on New York City. Andrew J. Singer, chairman, arranged the financing for this transaction.