News: Brokerage

GCP Capital arranges $113.825 million in financing for 15 N.Y.C. deals

GCP Capital Group LLC has arranged mortgage financing totaling $113.825 million for the following 15 deals: * $46.25 million for a portfolio of 12 multifamily buildings containing a total of 521 apartment units and one commercial unit, located throughout the Bronx. Adam Brostovski, principal of GCP, arranged the financing. * $12 million for two six-story apartment buildings containing a total of 91 apartments, located on East 179th St., Bronx. Paul Greenbaum, managing member of GCP, arranged the financing. * A $10 million bridge loan for the purchase and ground up construction of a development site in the High Line District of Manhattan into a condo building with ground floor retail. Adam Hakim, senior associate of GCP, arranged the financing. * $8.95 million combined financing for a six-story apartment building with 72 units on Kings Hwy., Brooklyn, and a six-story apartment building with 25 units on West 143rd St., Manhattan. Brostovski arranged the financing. * A $7.2 million construction loan for the development of a six-story condominium building of 30,100 s/f, located on 5th St., Long Island City, Queens. Matthew Albano, senior broker of GCP, arranged the financing. * $5.8 million for a six-story apartment building containing 69 units, located on Selwyn Ave., Bronx. Greenbaum arranged the financing. * $4.5 million for two five-story apartment buildings containing a total of 75 SROs and seven apartments, located on West 184th St., Manhattan. Stephen Katz, senior associate of GCP, arranged the financing. * A $4.5 million construction loan for the development of a five-story apartment building containing 19 units on South Second St., Williamsburg. Matthew Classi, managing member of GCP, arranged the financing. * $3.3 million for two contiguous four-story apartment buildings containing a total of 54 apartments, located on Lincoln Place, Brooklyn. Michael Charnowitz, senior associate of GCP, arranged the financing. * $2.8 million for a four-story apartment building containing 31 apartments, located on Argyle Rd. in Brooklyn. Greenbaum arranged the financing. * $2.625 million for a six-story apartment building containing 38 apartments, located on Davidson Ave., Bronx. Brostovski arranged the financing. * $2.1 million for a six-story apartment building containing 32 apartments, located on Davidson Ave., Bronx. Brostovski arranged the financing. * $1.5 million for a four-story apartment building containing 20 apartments, located on Bogart Ave., Bronx. Albano arranged the financing. * $1.3 million for a five-story apartment building containing 11 apartments, located on Boynton Ave., Bronx. Brostovski arranged the financing. * $1 million for a single-story retail shopping center, comprised of 7,800 s/f, located on Jamaica Ave., Queens. Classi arranged the financing.
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,