News: Brokerage

GCP arranged nine mortgage deals totaling $96.35 million

GCP Capital Group LLC has arranged mortgage financing in the aggregate amount of $96.35 million for the following nine properties: * $33.25 million for eight six-story rental buildings containing a total of 235 units and 5,800 s/f of commercial space, located throughout Manhattan. Matthew Albano, senior broker of GCP, arranged the financing. * $15.75 million for the construction of a brand new limited service hotel, located in the Midtown West section of Manhattan. Adam Hakim, senior associate of GCP, arranged the financing. * $14 million for four six-story apartment buildings containing a total of 153 apartments, located on Seaman Ave. in Manhattan. The rate was fixed at 2.75% for five years plus a five-year option. Paul Greenbaum, managing member of GCP, arranged the financing. * $10 million for two six-story apartment buildings containing a total of 160 apartments, located on Highland Blvd. in Brooklyn. Adam Brostovski, principal of GCP Capital Group, arranged the financing. * $7.1 million for two five-story apartment buildings containing a total of 23 units and two commercial spaces, located in the West Village and Lower East Side sections of Manhattan. Matthew Classi, managing member of GCP, arranged the financing. * $5.5 million for a five-story apartment building containing 99 units, located in Jersey City, N.J. Greenbaum arranged the financing. * $4.75 million for a six-story apartment building containing 70 apartments, located on 89th Ave. in Queens. Greenbaum arranged the financing. * $4.5 million for a portfolio of six buildings containing a total of 39 apartments and four stores, located throughout the Bronx. Stephen Katz, senior associate, and Jack Fried of GCP, arranged the financing. * $1.5 million for a four-story residential building containing four apartments, located on East 6th St. in Manhattan. George Spanos of GCP, arranged the financing.
MORE FROM Brokerage

Horvath & Tremblay Announces Strategic Integration of B6 Real Estate Advisors, Expanding New York City Presence

New York, NY Horvath & Tremblay, a premier real estate services firm specializing in investment real estate brokerage, 1031 exchanges, debt/equity placement, and appraisal & valuation services, announced the strategic integration of B6 Real Estate Advisors into the firm’s growing national platform.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,