News: Brokerage

Meridian arranges $34.2 million for mixed-use and multifamily properties; Birnbaum and Shelby finance $8.9 million for 40-unit building

Meridian Capital Group, LLC, one of the leading national commercial real estate finance and advisory firms, arranged the following mortgages totaling $34.2 million: * A new mortgage of $8.9 million on a 40-unit, six-story mixed-use building located on East End Ave. The loan features a rate of 3% and a 10-year term. Aaron Birnbaum and Carol Shelby negotiated this transaction. * New mortgages totaling $12.9 million on seven multifamily properties totaling 53 units located on Willow St., Pacific St., Hicks St., Henry St. and Pineapple St. in Brooklyn. The loans feature rates of 3.25% and 12-year terms. Benjamin Klugman negotiated these transactions. * New mortgages totaling $4.05 million on two multifamily properties composed of 84 units located on West 190th St. and West 175th St. The loans feature rates of 3.5% and 12-year terms. Allan Lieberman and Asher Haft negotiated these transactions. * New mortgages totaling $4.15 million on two multifamily properties totaling 59 units located on West 11th St. and Hart St. in Brooklyn. The loans feature rates of 3.25% and five-year terms. Judah Hammer and Daniel Neiss negotiated these transactions. * A new mortgage of $2.125 million on a four-unit, three-story multifamily building located on Montrose Ave. in Brooklyn. The loan features a rate of 3.13% and a 10-year term. Isaac Filler and Sam Shifer negotiated this transaction. * A new mortgage of $2.1 million on an 18-unit, four-story multifamily building located on Malcolm X Blvd. in Brooklyn. The loan features a rate of 3.25% and a 10-year term. Filler and Shifer negotiated this transaction.
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,

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.
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
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