News: Brokerage

GCP Capital Group LLC arranges multiple mortgages totaling $162.267m

GCP Capital Group LLC, one of the nation's most active companies specializing in investment real estate finance, has arranged financing in the amount of $162.267 million for the following properties: * $80 million for a 6-story apartment building containing 272 units, located in the East Harlem section of Manhattan. Paul Greenbaum, managing member of GCP, arranged the financing. * $8.5 million for a 6-story apartment building containing 19 units, located in the Gramercy Park section of Manhattan. Adam Hakim, senior associate of GCP, arranged the financing. * $3.69 million for a 5-story mixed-use apartment building containing 50 units and 2 stores, located on LaFontaine Ave. in the Bronx. Adam Brostovski, principal of GCP, arranged the financing. * $1.827 million for a portfolio of 3 two-story buildings containing a total of 12 units, located throughout Ridgewood, Queens. Matthew Albano, senior broker of GCP arranged the financing. * $1.1 million for a 4-story apartment building containing 7 units, located on Loring Place in the Bronx. Brostovski arranged the financing. * $7.35 million for a partially vacant, 8-story office building comprised of 46,900 s/f, located in the Bronx. Brostovski arranged the financing. * $6 million for a 6-story elevator mixed-use building containing 10 apartments and 1,900 s/f of retail space, located on Ninth Ave. in Manhattan. David Sessa, senior associate of GCP, arranged the financing. * $29 million land loan for a to-be-built luxury condominium building comprised of 126,200 s/f, located in the Hudson Sq. neighborhood of downtown Manhattan. Hakim arranged the financing. * $10.2 million construction loan for the development of a 7-story building containing 36 apartments and ground floor retail of 5,000 s/f, located on Fulton St. in Brooklyn. Albano arranged the financing for this transaction. * $9.4 million for a 7-story, mixed-use building containing 7 apartments and 1 commercial unit, located in the SoHo. Hakim arranged the financing. * $5.2 million for 3 four-story residential buildings containing a total of 15 apartments and 3 commercial units, located in Long Island City. Albano arranged the financing. GCP manages three North American private equity funds that have invested $1.2 billion in over 50 portfolio companies. GCP has monetized 35 of these investments, returning $2.2 billion in proceeds. The funds have made investments in the business services, energy, financial services, insurance and telecommunications industries. GCP generally makes controlling or influential minority investments of $10 million to $50 million in companies with enterprise values of $20 million to $250 million.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
Positive forecast for New York’s pro-housing push? - by Philip Butler

Positive forecast for New York’s pro-housing push? - by Philip Butler

New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing
A guide to finding the right NYC property management company - by Sanjay Gandhi

A guide to finding the right NYC property management company - by Sanjay Gandhi

Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional