News:
Brokerage
Posted: March 24, 2020
GCP Capital Group arranges 10 transactions: $202.37 million total
New York, NY GCP Capital Group LLC has arranged mortgage financing for the following properties:
- $57.5 million for a 132,000 s/f, six-story luxury condominium building containing 134 units, located in College Point. Matthew Albano, managing director of GCP, arranged the financing for this transaction.
- $37.65 million for an 11-story plus penthouse multifamily apartment building containing 159 units, located in the Crown Heights section of Brooklyn. Adam Brostovski, managing member of GCP, arranged the financing for this transaction.
- $29 million for a six-story mixed-use building containing 146 apartments and 158,250 s/f of commercial space, located in the Inwood section of Manhattan. Stephen Katz, managing director of GCP, arranged the financing for this transaction.
- $20.3 million for a five-story mixed-use building containing 60 apartments and 4,550 s/f of commercial space, located on Avenue A in Manhattan. Paul Greenbaum, managing member of GCP, arranged the financing for this transaction.
- $15.825 million for a six-story mixed-use building containing 59 apartments and 7,000 s/f of commercial space, located in the Upper East Side of Manhattan. Greenbaum arranged the financing for this transaction.
- $10.5 million for a six-story mixed-use building containing 56 units and approx. 4,500 s/f of commercial space, located in the Washington Heights section of Manhattan. Stephen Katz arranged the financing for this transaction.
- $9.595 million for a five-story multifamily apartment building containing 28 units and five commercial units, located on West 148th St. in Manhattan. Brostovski arranged the financing for this transaction.
- $8.5 million for two six-story multifamily apartment buildings containing a total of 55 units, located on Thompson St. in Manhattan. Matthew Classi, managing member of GCP, arranged the financing for this transaction.
- $7 million for an 18-story multifamily cooperative apartment building containing 183 units, located in the Midtown East neighborhood of Manhattan. Alan Perlmutter, managing member of GCP, arranged the financing for this transaction.
- $6.5 million for a four-story mixed-use building containing six apartments and approx. 14,750 s/f of commercial space, located on West 139th St. in Manhattan. Classi arranged the financing for this transaction.
Tags:
Brokerage
MORE FROM Brokerage
SABRE coordinates sale of six properties totaling 199,845 s/f
Huntington, NY SABRE Real Estate Advisors has completed the sale of six commercial properties across Long Island and Northern New Jersey, further underscoring the firm’s strength as a trusted partner in complex real estate transactions. The deals were led by executive vice presidents Jimmy Aug and Stu Fagen, whose combined expertise continues to drive exceptional results for clients across the region.
.jpg)
Quick Hits
Columns and Thought Leadership
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
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman
Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
.gif)