News:
Brokerage
Posted: May 28, 2013
GCP arranges 10 mortgages totaling $61.075 million
GCP Capital Group LLC, has arranged 10 mortgage financing deals totaling $61.075 million the following properties:
* $14.325 million for a seven-story residential building containing 22 apartments and three commercial units, located on Essex St. Matthew Classi, managing member of GCP, arranged the financing.
* $9 million for two six-story residential apartment buildings containing a total of 236 units, located in Hempstead. Matthew Albano, senior broker of GCP, arranged the financing.
* $8.75 million for two six-story apartment buildings containing 58 units, located on Thompson St. Classi arranged the financing.
* $6.5 million for an eight-story apartment building containing 44 units, located on Hutchinson River Pwy. East in the Bronx. David Sessa, senior associate of GCP, arranged the financing.
* $4.6 million for three contiguous five-story apartment buildings containing a total of 60 apartments, located on East 88th St. Paul Greenbaum, managing member of GCP, arranged the financing.
* $4.6 million for a five-story apartment building containing 39 units, located on West 22nd St. Greenbaum arranged the financing.
* $4.6 million for a five-story apartment building containing 55 units, located on Cannon Place in the Bronx. Adam Brostovski, principal of GCP, arranged the financing.
* $4.55 million for a five-story apartment building containing 65 units, located on Giles Place in the Bronx. Brostovski arranged the financing.
* $2.5 million for three contiguous four-story walk-up apartment buildings containing 26 units, located on West 70th St. Greenbaum arranged the financing.
* $1.65 million for a two-story retail building comprised of 17,190 s/f, located on East Gun Hill Rd. in the Bronx. Brostovski arranged the financing.
Tags:
Brokerage
MORE FROM Brokerage
REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium
Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
Quick Hits
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
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,
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