Manhattan, NY JLL Capital Markets has arranged a $95 million loan for the acquisition and repositioning of three office buildings — 580 Eighth Ave., 251 West 39th St. and 36 East 20th St. — for East End Capital and a private family office, and also arranged the partnership of the two firms. The loan was provided by LoanCore Capital. Aaron Appel, vice chairman; Jonathan Schwartz, managing director; Mark Fisher, executive vice president; Matt Collins, associate; Patrick Cotter, analyst, led the JLL Capital Markets team handling the debt assignment. The property owner was represented by Doug Heitner, Sara Ho and Isaac Stern at Kasowitz Benson Torres LLP.
New York, NY Arbor Realty Trust, Inc. has funded two loans totaling $4.8 million in the New York City area. The first loan was for 401 E. 136th St., Bronx. This nine-unit multifamily property received $1.8 million in refinance funding through the Freddie Mac SBL program. The deal provides a five-year hybrid term and a 30-year amortization schedule. Ari Short of Arbor’s New York City office originated the loan.
Brooklyn, NY Holliday Fenoglio Fowler, L.P. (HFF) has completed $32 million in financing for Caesura, a newly completed, 123-unit residential building with ground-floor retail in the borough’s Cultural District. The HFF team worked on behalf of the borrower, Jonathan Rose Companies, LLC, to place the 10-year, fixed-rate loan with Allegiant Real Estate Capital LP. Loan proceeds were used to replace the existing construction loan.
New York, NY GCP Capital Group LLC has arranged mortgage financing totaling $67.94 million for the following nine deals:
• $20.3 million for a five-story mixed-use building containing 60 apartments and 4,550 s/f of commercial space in the East Village section of Manhattan. Paul Greenbaum, managing member of GCP, arranged the financing. • $12.5 million for three five-story multifamily apartment buildings containing 36 units and 5,200 s/f of commercial space on West 42nd St. in Manhattan. Adam Brostovski, principal of GCP, arranged the financing.
New York, NY According to Edward Howe III, managing director of National Cooperative Bank (NCB), the bank has originated over $54 million in new loans for 23 N.Y. area housing cooperatives.
Mindy Goldstein, senior VP, originated $26.8 million, including the largest loan of the month, a $5.5 million first mortgage and $500,000 line of credit for Tudor Woods, Inc., a 148-unit co-op at 76-98 DeHaven Dr., Yonkers. Other financings included:
Bronx, NY KeyBank Community Development Lending and Investment (CDLI) closed $24.5 million in total financing for the Gilbane Development Company’s acquisition and renovation of two New York City Housing Authority (NYCHA) properties, Highbridge Franklin and Twin Parks West, to preserve 647 units of permanent affordable housing. Both properties are part of NYCHA’s plan to finance, renovate and manage 1,700 apartment units across 17 developments under its Permanent Affordability Commitment Together (PACT) program. PACT is New York City’s implementation of the federal Rental Assistance Demonstration (RAD) program.
Brooklyn, NY Greystone has provided a total of $11.727 million in Fannie Mae loans to refinance a portfolio of multifamily properties. The loans were originated by Anthony Cristi in Greystone’s New York office on behalf of Zalmen Wagschal. The four separate Fannie Mae loans, closed in under two weeks from the application date, are all seven-year Hybrid Adjustable Rate Mortgages (ARMs), secured to refinance the following properties comprising 6-12 units in the Bushwick and Bedford-Stuyvesant neighborhoods:
Brooklyn, NY According to The Carlton Group. Ltd., managing director Ruth Barone has arranged $47.5 million in financing for RYBAK Developme...
Manhattan, NY Square Mile Capital Management LLC has originated a $71 million loan secured by The Rennie, a newly-built condominium building...
Queens, NY Trez Forman Capital Group has continued its successful year by completing its first transaction in New York. The private lender c...