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Brokerage
Posted: November 15, 2016
Kessner and Zlotowitz of Eastern Union arrange $10.3 million acquisition loan
Meir Kessner, Eastern Union Funding
Ira Zlotowitz, Eastern Union Funding
2401 Adam Clayton Powell Jr. Blvd, Harlem - Manhattan, NYManhattan, NY Eastern Union Funding’s Meir Kessner, senior managing director, and Ira Zlotowitz, president, have arranged a $10.3 million acquisition loan on behalf of ABJ Properties for its $16 million purchase of a six-building portfolio in Harlem.
Totaling 82 apartments and six retail spaces, the properties are located at 53-55 West 130th St., 165 West 122nd St., 56 West 127th St., 342 and 346 Lenox Ave., and 2401 Adam Clayton Powell Jr. Blvd.
The lender for the loan was Customers Bank.
The commercial real estate mortgage brokerage firm closes an average of $3 billion annually, with a market share far outpacing the industry.
Working with 85 lenders, they close loans on multifamily, mixed-use, medical, single-tenant properties and properties in every category. To meet surging demand and assure the best service in the industry, Eastern Union funnels deals through a Quotes and Term Sheets (QTS) Division, guaranteeing their clients the best terms by having the QTS team initially processing and following up every deal thereby advising lenders by knowing the appetites of every bank our brokers deal with, company-wide.
The Eastern Union team was named by Crain’s New York in 2014 and 2015 as one of the top 50 fastest growing firms in the greater metropolitan area. Meanwhile, the company maintains a national footprint, having funded development projects dotting the skylines in major markets including the Mid-Atlantic, the general northeast, California and everywhere in between.
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