Finance: Real Estate

Real Estate Weekly, April 17, 2002

Meridian Capital Group announced the following transactions.

* Meridian Capital Group negotiated a new mortgage of $60 million was placed by on a 381 unit, 33 story elevator apartment building on York Avenue in Manhattan. The loan featured a rate of 6% and a 7 year term. The transaction was arranged by Moshe Majeski and Carol Shelby.

* A new mortgage of $2.55 million was placed by Meridian on a 40 unit, 5 story multifamily building on West 46 Street in New York City. The loan featured a rate of 6.75% and a 10 year term. The transaction was negotiated by Morris Diamant

* A new mortgage of $1.88 million was arranged by Meridian on a 63 unit, 6 story multi-family building on Empire Blvd. in the Crown Heights section of Brooklyn, NY. The-loan featured a rate of 6.08% and a 10 year term. The existing lender also waived half of the prepayment penalty from the current mortgage in consideration for this new loan. Allan Lieberman negotiated the transaction.

* Meridian placed a new mortgage of $1.74 million on a 35 unit, 4 story multifamily building on 41st Street in Astoria, NY. The loan featured a rate of 6.78% and a 10 year term. Elliott Y. Birnbaum negotiated the transaction.

* Meridian negotiated 3 new mortgages totaling $1.725 million on 1 mixed-use and-2 multifamily buildings in Manhattan and Brooklyn. The loans featured 15 year terms. These transactions were arranged by Arthur Preisler.

* A new mortgage of $1.54 million was placed by Meridian on a 57 unit, 6 story multifamily building on Kings Highway in Brooklyn, NY. The loan featured a 10 year term. The transaction was negotiated by Carol Shelby.

* A new mortgage was placed by Meridian for $1.15 million on a 6,000 SF 4 tenant Retail Building on Flatbush Avenue in Brooklyn, NY. The property will benefit from a non-recourse par loan at a rate of 6.75% and a 10 year term. Allan Lieberman handled this transaction.

* A new mortgage of $1 million was placed by Meridian on a 24 unit, 6 story walkup apartment building on West Houston Street in New York City. The loan featured a rate of 6.5% and a 10 year term. The transaction was negotiated by Elliott Y. Birnbaum.

Spencer Savings Bank arranged a $5.8 million unanchored loan for a retail property on Eisenhower Parkway in Roseland, N.J. The loan featured a 10-year term.

David Cronheim Mortgage Corporation arranged a $9.2 million permanent loan for a newly developed, single-story retail building on Hooper Ave. in Dover, N.J. The loan featured a 20-year term. Andrew Stewart arranged the financing for this transaction.

City & Suburban Federal Savings Bank announced the following transactions:

* A $4.6 million loan for two three-story commercial building on Greenwich Ave. in Greenwich, Conn.;

* A $4 million loan for 10-story, 36,650 SF office building on University Place in New York City;

* A $2.2 million loan for two retail buildings in Brooklyn, N.Y.:

* A $680,000 loan for a four-story apartment building on First Ave. in New York City;

* A $600,000 loan for a five-story loft building on Duane St. in New York City;

* A $525,000 loan for a six-story apartment building on E. 11th St. in New York City.

Joe Laquidara, senior vice president, Diana Elton, vice president, and Charlie Persico, vice president, arranged the financing for these transactions.

M. Robert Goldman & Company of New Jersey, Inc. arranged a $6.75 million permanent loan for a 48,149 SF office building in Eatontown, N.J. The loan featured a 10-year term.

Carlton Advisory Services, Inc. announced the following transactions:

* A $34.5 million first mortgage for a 540,000 SF office building on Northern Boulevard in Long Island City, N.Y. The loan featured a 15-year term;

* A $21 million acquisition and development loan for a 274,000 SF office/industrial building on 34th St. in New York City.

Fleet Real Estate Finance Group arranged a $25 million construction loan for a mixed-income condo building on 116th St. in New York City.