News: Brokerage

GCP Capital Group arranges 12 mortgage deals totaling $62.54 million

GCP Capital Group LLC has arranged mortgage financing in the aggregate amount of $62.54 million for the following 12 properties: * $14 million in combined financing for a multi-building cold/dry and self-storage facility comprised of 190,000 s/f, located in the Farragut section of Brooklyn. Paul Greenbaum, managing member of GCP, arranged the financing. * $10 million combined financing for a 20-story elevator co-op apartment building containing 159 apartments and parking garage on the Upper East Side. Adam Hakim, senior associate of GCP, arranged the financing. * $8.75 million for a portfolio of four apartment buildings containing a total of 129 apartments, located throughout upper Manhattan. Michael Charnowitz, senior associate of GCP, arranged the financing. * $7.3 million for a five-building apartment portfolio containing 28 apartments and three stores, located throughout Brooklyn. Matthew Albano, senior broker of GCP, arranged the financing. * $5.6 million for two five-story apartment buildings containing a total of 42 apartments, located on West 139th St. in Manhattan. Greenbaum arranged the financing. * $3.75 million for a five-story apartment building containing 26 apartments and five retail units, located on Amsterdam Ave. in Manhattan. Adam Brostovski, principal of GCP, arranged the financing. * $2.99 million for a gut renovated, six-story plus loft building containing nine apartments and ground floor retail of 1,050 s/f, located on Fifth Ave. in Brooklyn. Matthew Classi, managing member of GCP, arranged the financing. * $2.5 million for three interconnected industrial buildings comprised of approximately 52,500 s/f, located on Douglas Ave. in Queens. Charnowitz arranged the financing. * $2.5 million in second mortgage financing for a seven-story apartment building containing 65 units, located on Fulton St. in Brooklyn. Greenbaum arranged the financing. * $2 million for a four-story apartment building containing 16 apartments on St. Marks Ave. in Brooklyn. Charnowitz arranged the financing. * $1.7 million for two four-story apartment buildings containing a total of 23 apartments on Fulton Ave. in the Bronx. Stephen Katz, senior associate of GCP, arranged the financing. * $1.4 million for two three-story residential buildings containing a total of four apartments and one store, located on DeKalb Ave. in Brooklyn. David Sessa, senior associate of GCP, arranged the financing.
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.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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,

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
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

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

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.