Financial Digest

Hayum and Hingson of Meridian arrange $15.7 million construction loan for a 64-unit mixed-use property

Queens, NY Meridian Capital Group arranged $15.7 million in construction financing for a mixed-use property in the Jamaica neighborhood. The 24-month construction loan, provided by a balance sheet lender, features a prime-based floating rate and full-term interest-only payments.

Papathomas joins Greystone Labs division as chief technologist

New York, NY Greystone has appointed Alex Papathomas as chief technologist for its Greystone Labs division to oversee the continued development and rollout of proprietary software serving Greystone’s commercial real estate clients.

Zegen of MRC arranges $50 million first mortgage

Brooklyn, NY Madison Realty Capital (MRC) has provided a $50 million first mortgage loan collateralized by a development project across 58 and 66 Gerry St. and coupled with an existing office building and additional development site at 25 and 33 Bartlett St. in the Broadway Triangle neighborhood.

Appel, Gaines, Sastri and Fagella of JLL secure $75 million loan on behalf of Moinian

Manhattan, NY JLL Capital Markets experts have arranged a $75 million loan on behalf of the Moinian Group to refinance 450-460 Park Ave. South. The group worked on behalf of Moinian Group to place the 10-year commercial mortgage backed securities refinancing loan with Wells Fargo.

Cole Schotz advises G4 Capital in $94 million loan to HAP Investments

Manhattan, NY Cole Schotz P.C. has advised G4 Capital Partners on a $94 million loan to HAP Investments for construction of a 41-unit condominium in TriBeCa. The 19-story complex will be located at 65 Franklin St., which is currently home to a five-story building set for demolition.

Moreno of CPC arranges $6 million Fannie Mae Multifamily loan

Manhattan, NY The Community Preservation Corp. (CPC), Project FIND, the Joint Ownership Entity New York City (JOE NYC), and the NYC Department of Housing Preservation and Development (HPD) have closed on a $6 million Fannie Mae Multifamily Affordable Housing (MAH) loan

GCP Capital Group arranges nine mortgages totaling $105.938 million

New York, NY GCP Capital Group LLC has arranged mortgage financing totaling $105.938 million for the following nine deals:  $34 million for a 32-story multifamily apartment building containing 250 units in Kew Gardens, Queens.  Alan Perlmutter, managing member of GCP, arranged the financing.

AVANA Capital provides $65 million construction
loan for 168-room AC Marriott hotel in Chelsea

Manhattan, NY AVANA Capital closed a $65 million construction loan to 842 Enterprises, Inc., providing funding to develop modular construction of the AC Marriott hotel located in Chelsea.

Zegen of MRC closes $27 million first mortgage

Brooklyn, NY Madison Realty Capital (MRC) has closed a $27 million first mortgage loan for the development of a 68-unit mixed-use residential building located at 93 Linden St. and the rehabilitation of an adjacent two-story community facility at 395 Evergreen Ave. in the Bushwick neighborhood.

Peck and Knapp of HFF secure $97.1 million in financing for 111 Leroy, a PMG-developed condominium in the West Village

Manhattan, NY Holliday Fenoglio Fowler, L.P. (HFF) has secured $97.1 million in financing for 111 Leroy, a condominium development in the West Village. HFF worked on behalf of the developer, Property Markets Group (PMG), to arrange the two-year, floating-rate financing through Rialto Capital Management.