News: Brokerage

GCP Capital Group arranges 12 mortgages totaling $75.755 million

GCP Capital Group LLC has arranged mortgage financing in the amount of $75.755 million for the following 12 deals: * $21 million for eight retail condo units comprised of 21,100 total s/f, located at the base of a ten-story apartment building on Fulton St. in Manhattan. David Sessa, senior associate at GCP, arranged the financing. * $12.7 million for a portfolio of five apartment buildings with a total of 28 units and a four-story apartment building containing 12 units plus 2,800 s/f of ground floor retail space on the Upper East Side. Matthew Classi, managing member of GCP, arranged the financing. * $7.5 million for a two-story industrial building comprised of 158,350 s/f, located on Masepth Ave., Queens. Matthew Albano, senior broker of GCP, arranged the financing. * $5.975 million for a six-story apartment building containing 89 units, located in Hollis, Queens. Adam Brostovski, principal of GCP, arranged the financing. * $5.75 million for two five-story apartment buildings containing a total of 52 units on West 152nd St., Manhattan. Brostovski arranged the financing. * $5.625 million combined financing for a four-story apartment building containing five units and 2,200 s/f of commercial space and a five-story apartment building containing 30 units, located on the Upper East Side and Midtown Center neighborhoods. Albano arranged the financing. * $5 million for a six-story apartment building containing 48 units, located on Sheridan Ave., Bronx. Brostovski arranged the financing. * $3.5 million for a four-story apartment building containing 16 units, located on Rogers Ave., Brooklyn. Michael Charnowitz, senior associate of GCP, arranged the financing. * $2.5 million for a one-story retail and industrial commercial building occupied by four tenants on West 202nd St., Manhattan. Paul Greenbaum, managing member of GCP, arranged the financing. * $2.475 million for a four-story apartment building containing 25 units, located on East 31st St., Brooklyn. Greenbaum arranged the financing. * $2.3 million for a five-story building containing 11 apartments, located on East 83rd St., Manhattan. Classi arranged the financing. * $1.43 million for a five-unit retail strip consisting of 5,200 s/f, located on East Tremont Ave., Bronx. Sessa arranged the financing.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

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.
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

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
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,