Real estate: finance

Real Estate Weekly, March 26, 2003

Meridian Capital Group LLC announced the following transactions:

* Meridian Capital Group procured financing for $17 million on a 48,525 sq. ft. retail building on Fulton Street in Brooklyn, NY. The property will benefit from a rate of 5.5%, with a 10 year term. Aaron M. Birnbaum, David M. Rosenberg, and Barry Spector handled this transaction.

* A new mortgage of $5.775 million was arranged by Meridian on eight building apartment complex totaling 240 units, on Queens Boulevard in Flushing, NY. The loan featured a rate of 5.25% and a 10 year term. Avi Weinstock and Josh Rhine negotiated the transaction.

* Meridian placed a new mortgage of $3 million on a 6 story apt. building on East 3rd Street in New York City. The loan featured a rate of 4.81% and a 10 year term. Morris Diamant negotiated the transaction.

* A new mortgage was negotiated by Meridian for $2.57 million on a 26,657 sq. ft. commercial building on Roosevelt Avenue in Valley Stream, NY. The property will benefit from a rate of 5.875%, with a 10 year term. Michael Kesselman handled this transaction.

* A new mortgage of $2.5 million was placed by Meridian on a 36 unit, 6 story commercial building on Madison Avenue in Mahanttan. The loan featured a rate of 5.875% and a 10 year term. Saul Piller negotiated the transaction.

* Meridian negotiated a new mortgage in the amount of $2.3 million on a 131 unit, 11 story co-op building on 83rd Avenue in Kew Gardens, NY. The loan featured an interest only rate with a 10 year term. Samuel M. Spinner negotiated this transaction.

David Cronheim Mortgage Corporation arranged a $2.35 million permanent loan for a 74,336 SF industrial building in Kenilworth, N.J. The loan featured a 10-year term and a 25-year amortization schedule. James Risko arranged the financing for this transaction.

Regent Atlantic Realty Ltd. announced the following transactions:

* A $1.75 million loan for a mixed-use building on W. 37th St. in New York City;

* A $2.1 million first mortgage for two adjacent residential building on E. 116th St. in New York City;

* A $650,000 first mortgage for a multi-family building on E. 32nd in Brooklyn, N.Y.

Sholom Weinberger arranged the financing for this transaction.

National Cooperative Bank announced the following transactions:

* A $2.6 million first mortgage and a $500,000 line of credit for a co-op building on West End Ave. in New York City;

* A $1.75 million first mortgage and a $300,000 line of credit for a co-op complex on E. 72nd St. in New York City;

* A $1.2 million first mortgage and a $1 million line of credit for a co-op building on Central Park West in New York City;

* A $1 million first mortgage for a co-op building on Cedar Pond Land in Cortlandt Manor, N.Y.;

* A $675,000 first mortgage and a $200,000 line of credit for a co-op building on E. 84th St. in New York City;

* A $6 million first mortgage and a $2 million line of credit for a co-op building on E. 18th St. in New York City;

* A $5.4 million first mortgage and a $650,000 line of credit for a co-op building on W. 84th St. in New York City;

* A $2.1 million first mortgage for a co-op building on Fifth Ave. in New York City;

* A $2 million first mortgage and a $500,000 line of credit for a co-op building on Shore Road in Brooklyn, N.Y.;

* An $850,000 first mortgage for a co-op-building on Bleecker St. in New York City;

* A $550,000 first mortgage for a co-op building on E. 28th St. in New York City;

* A $500,000 line of credit for a co-op building at Central Park South in New York City;

* A $450,000 first mortgage for a co-op building on 23rd St. in Brooklyn, N.Y.;

* A $350,000 line of credit for a co-op building on Ocean Parkway in Brooklyn, N.Y.;

* A $2.1 million first mortgage and a $250,000 line of credit for a co-op building on Smith St. in Freeport; N.Y.;

* A $2.1 million first mortgage and a $200,000 line of credit for a co-op building on North Chatsworth Ave. in Larchmont, N.Y.;

* A $850,000 first mortgage for a co-op building on Hamilton Place in Tarrytown, N.Y.;

* A $550,000 first mortgage and a $500,000 line of credit for a co-op building on South Middle Neck Road in Great Neck, N.Y.;

* A $550,000 first mortgage and a $100,000 line of credit for a co-op building on Schermerhorn St. in Brooklyn, N.Y.

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

The Carlton Group arranged a $193 million loan for a 1.2 million SF building on Seventh Ave. in New York City. Howard L. Michaels, chairman, and Michael J. Campbell, senior vice president, arranged the financing for this transaction.

The Carlton Group arranged a $15.5 million loan for a 150,000 SF building on W. 38th St. in New York City. Howard L. Michaels, chairman, and Michael J. Campbell, senior vice president, arranged the financing for this transaction.

Holliday Fenoglio Fowler, L.P. arranged an $11.9 million ground lease loan for a 24-acre land site in Marlboro, N.J. The loan featured a 20-year term. Thomas Didio arranged the financing for this transaction.