News: Brokerage

GCP Capital Group arranges 14 deals totaling $75.625 million

GCP Capital Group LLC has arranged mortgage financing in the aggregate amount of $75.625 million for the following 14 deals: * $16 million for a package of three apartment buildings containing a total of 19 apartments and eight stores, located on First Ave., Manhattan. Matthew Classi, managing member of GCP, arranged the financing. * $9 million for a nine-story apartment building containing 21 apartments and two professional spaces, located on East 81st St., Manhattan. Classi arranged the financing. * $7.5 million for a six-story apartment building containing 92 units with five commercial units, located on Virginia Ave., Bronx. Paul Greenbaum, managing member of GCP, arranged the financing. * $5.8 million for a one-story strip retail building comprised of 20,350 s/f, located on Astoria Blvd., East Elmhurst, Queens. Matthew Albano, senior broker of GCP, arranged the financing. * $5.775 million for a portfolio of five multifamily apartment buildings containing a total of 83 apartments, located in the Fordam Heights section of the Bronx. Adam Brostovski, principal of GCP, arranged the financing for this property. * $5.7 million for a five-story apartment building containing 63 units, located on Valentine Ave., Bronx. Brostovski arranged the financing. * $5.5 million for a five-story apartment building containing 68 units with one commercial unit, located on Vermilyea Ave., Manhattan. Brostovski arranged the financing. * $5 million for a six-story apartment building containing 30 apartments, located on St. Nicholas Place, Manhattan. Greenbaum arranged the financing. * $3.25 million for a five-story office building comprised of 9,700 s/f, located on Smith St., Brooklyn. David Sessa, senior associate of GCP, arranged the financing. * $3.2 million for a six-story apartment building containing 25 units and 2,050 s/f of commercial space, located on Walton Ave., Bronx. Brostovski arranged the financing. * $3 million for a compilation of commercial buildings, partially owner occupied, containing a total of 61,000 s/f, in the Prospect Heights section of Brooklyn. Jack Fried, senior associate of GCP, arranged the financing. * $2.3 million for a single-story commercial building comprised of 13,050 s/f, located on Linden Blvd., Brooklyn. Greenbaum arranged the financing. * $2 million for a one-story commercial building comprised of 7,600 s/f, located on Union St., Brooklyn. Matthew Albano, senior broker of GCP, arranged the financing. * $1.6 million for two contiguous three-story apartment buildings containing a total of 12 units, located on Grove St., Brooklyn. Classi, arranged the financing.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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
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,

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.
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