Real Estate: Finance

Real Estate Weekly, March 12, 2003

Meridian Capital Group LLC announced the following transactions:

* Meridian Capital Group procured a new LIBOR based mortgage of $65 million on an 11-story, 300,000 sq.ft. landmarked limestone brick & terra cotta facade loft/office building on Broadway in Manhattan. Store tenants include Armani Exchange, Eddie Bauer and the largest tenant Scholastic Inc., which rents out more than 100,000 sq. ft. This challenging transaction was originated by Morris Diamant & Moshe Majeski and placed by Aaron M. Birnbaum & David M. Rosenberg.

* Meridian placed a new mortgage of $6 million on a 183 unit, 15 story apt. building on West 70th Street in New York City. The loan featured a rate of 4.3% and a 7 year term. Samuel M. Spinner negotiated the transaction.

* A new mortgage of $4.1 million was placed by Meridian on a 58 unit, 6 story apt. building on Cabrini Boulevard in New York City. The loan featured a rate of 6% and a 7 year term. Aaron M. Birnbaum and Carol Shelby negotiated the transaction.

* Meridian negotiated a new mortgage in the amount of $3 million on a 117 unit, 20 story co-op building on East 57th Street in Manhattan. The co-op is 75% sold and the loan featured a rate of 5.42% with a 10 year term. Jeffrey J. Weinberg negotiated this transaction.

* Meridian arrannged a new mortgage of $2.06 million on a 20 unit, 5 story apt. building on West 49th Street in New York City. The loan featured a rate of 5.25% and a 10 year term. Saul Piller negotiated the transaction.

* A new mortgage of $1.875 million was placed by Meridian on a 44 unit, 6 story apt. building on Kelly Street in the Bronx. The loan featured a rate of 5.5% and a 10 year term. The transaction was negotiated by David Hayum.

M. Tuck Capital Associates announced the following transactions:

A $6.3 million acquisition loan for a 66,000 SF shopping center on Washington Ave. in Belleville, N.Y. The loan featured a 6.25% rate and a 10year term. Brian P. Greenfield arranged the financing for this transaction;

A $2.8 million loan for a 165 cooperative units in East Windsor, N.J. The loan featured a 6.25% rate and a 10year term. Brian P. Greenfield arranged the financing for this transaction;

A $3 million loan for a six-story building on 37th Ave. in Jackson Heights, N.Y. The loan featured a 5.625% rate and a 12-year term. Michael E. Tuck arranged the financing for this transaction.

David Cronheim Mortgage Corporation arranged a $1.45 million permanent loan for an 83,899 SF retail center in New Britain, Conn. The loan featured a 10-year term and a 25-year amortization schedule. Andrew Stewart arranged the financipg for this transaction.

Holliday Fenoglio Fowler, L.P. arranged a $7.4 million first mortgage for a 122,5000 SF industrial! flex building on Route 304 in Nanuet, N.Y. The loan featured a 15-year term. Tom Didio arranged the financing for this transaction.

GCP Capital Group LLC announced the following transactions:

* A $6 million loan for four five-story apartment buildings and one four-story apartment building in New York City;

* A $10 million loan for two five-story elevator buildings and one three-story mixed-use building on Mercer St. in New York City;

* An $8.85 million loan for a 241,053 SF shopping center in Suffolk county, N.Y.;

* A $2.06 million loan for a to-be-built 34,500 SF building in Floral Park, N.Y.;

* A $3.5 million loan for two six-story apartment buildings on 37th Ave. in Jackson Heights, N.Y.

Adam Brostovski, Matthew Classi, Paul Greenbaum, and Alan Perlmutter arranged the financing for these transactions.

Emigrant Funding Corporation announced the following transactions:

* A $250,000 loan for a two-story, mixeduse building in Ossining, N.Y.;

* A $400,000 loan for a three-story apartment building in Astoria, N.Y.;

* A $1.825 million acquisition loan for a three-story condo building in Summit, N.J.;

* A $185,000 loan for a three-story apartment building in Brooklyn, N.Y.;

* An $835,000 loan for a two-story commercial building in Paterson, N.J.;

* A $195,000 acquisition loan for a four-story apartment building in Brooklyn, N.Y.;

* A $200,000 acquisition loan for a two-story commercial building in New Rochelle, N.Y.;

* A $100,000 loan for a three-story apartment building in Brooklyn, N.Y.;

* A $500,000 loan for a five-story apartment building in Hoboken, N.J.;

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

* A $525,000 loan for a three-story apartment building in Brooklyn, N.Y.;

* A $250,000 loan for a three-story co-op building in Brooklyn, N.Y.;

* A $750,000 loan for two single-story buildings in Manhattan, N.J.;

* A $350,000 loan for a three-story apartment building in Ridgewood, N.J.;

* A $600,000 loan for a two-story, mixed-use building in Pleasantville, N.Y.;

* A $340,000 loan for a five-story co-op building in New York City;

* A $125,000 loan for a five-story co-op building in Brooklyn, N.Y.;

* A $650,000 loan for a four-story apartment building in Jersey City, N.J.;

* A $525,000 loan for a four-story apartment building in Astoria, N.Y.;

* A $129,500 loan. for a three-story apartment building in Hartford, Conn.;