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. 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) loanNew 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.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.
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.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. New York, NY
GCP Capital Group LLC has arranged mortgage financing totaling $87.125 million for the following 10 deals: $11 million for a six-story multifamily apartment building containing 57 units and 3,300 s/f of commercial space on West 175th St. in Manhattan. Paul Greenbaum, managing member of GCP, arranged the financing.New York, NY
Omar Khan has joined Procida Funding and Advisors on the asset management team. What makes this a historic hire for Procida is that it was Khan's grandfather, Abdul Qayum, who catapulted the then 19-year-old, Billy Procida's career by investing $400,000 (net present value close to $4 million) in 1982.
The Kaufman Organization (Kaufman) thas landed a $120 million refinancing loan for its Madison Sq. portfolio, which is comprised of four properties in the Flatiron and NoMad neighborhoods of Midtown South. The Kaufman team was led by Michael KazmierskiManhattan, NY
CPC Mortgage Co. LLC, a subsidiary of the Community Preservation Corp. (CPC), has closed a $9.6 million Federal Housing Administration (FHA) loan to refinance two rent stabilized, multifamily properties in the East Harlem community.