Eastern Union closes loans from 121 lenders across U.S. in 2024

Manhattan, NY In a market beset with stubbornly high interest rates, Eastern Union – one of America’s largest commercial real estate brokerages – placed and closed loans with 121 lenders in 2024.

The company’s portfolio of loans last year included financing from 31 new lenders.

Eastern Union also had a successful year in respect to geographic reach, as well as in its versatility in closing a wide variety of commercial loan types. The brokerage closed transactions in support of properties in 33 states across the United States. The company’s full palette of closed transactions represented 20 different property types.

“The Eastern Union brokerage team devotes a great deal of energy to nurturing business relationships with the full spectrum of commercial lenders,” said Abe Bergman, Eastern Union’s president and co-founder.

“Borrowers see Eastern Union as their trusted advisor because of our consistent ability to pinpoint the best sources of financing for their deals,” said Moshe Maybloom, managing director at Eastern Union.

In 2024, the company added a sixth office in Denver, joining existing offices in Brooklyn,  Woodmere, Chestnut Ridge, NY, Howell NJ and Bethesda, MD.

Among the year’s standout transactions, Eastern Union secured $72 million in construction financing toward development of a 117-unit luxury condo in Long Island City in Queens. The transaction was arranged by Chaim Greenfeld, a company vice president.

Eastern Union also closed on a $51.5 million refinancing package for a self-storage complex in Virginia Beach, VA. The transaction was led by David Merkin, a senior managing director with the firm’s Mid-Atlantic Group.

Moreover, the company secured a $46.2 million refinancing package for a multifamily property in Columbus, OH. The deal was overseen by Eastern Union senior managing director Michael Muller.

Eastern Union also arranged the $24 million refinancing of a construction loan in support of a 57-unit, mixed-use building in Brooklyn’s Flatbush community. The mortgage was secured by Eastern Union senior managing director Motti Blau and senior loan consultant Mendy Pfeifer.

Also this year, the company secured $20.4 million in refinancing toward conversion of a six-story, 137-unit hotel in Plano, TX into an assisted living community. The transaction was originated and managed by Meir Abrahamson, a senior loan consultant with Eastern Union.