Financial Digest

Fletcher, Rogozinski and Klauer of Greystone closes $75 million Fannie Mae loan; Posey and Englund of Greystone collaborated on the structure and spearheaded loan

Manhattan, NY Greystone has closed a $75 million Fannie Mae loan made to an affiliate of Edison Properties, LLC for The Ludlow, a 23-story, 241-unit mixed-income multifamily rental apartment building located on the Lower East Side of Manhattan.

Howe of NCB structures $50.25 million first mortgage and $5 million line of credit for Castle Village Owners Corp.

Manhattan, NY National Cooperative Bank (NCB), a leading lender to cooperative housing throughout the tri-state area, has closed a $50.25 million first mortgage and a $5 million line of credit for Castle Village Owners Corp.

Schwartz, Herzog, Rosenberg and Burns of JLL Capital Markets complete $36.7 million loan for development of 128-130 West 23rd Street

Manhattan, NY JLL Capital Markets experts have completed a $36.7 million loan to finance the development of 128-130 West 23rd Street, a resi...

GCP Capital Group arranges 11 mortgages totaling $102.125 million

New York, NY GCP Capital Group LLC, one of the nation’s most active companies specializing in commercial real estate finance, has arranged mortgage financing totaling of $102.125 million for the following 11 properties:

CPC launches CPC Mortgage Company LLC

New York, NY The Community Preservation Corp. (CPC), a leading nonprofit affordable housing and community revitalization finance company, has launched CPC Mortgage Company LLC, a subsidiary created solely to focus on the company’s rapidly growing agency lending business. CPC Mortgage Company was introduced at a reception on February 11th during the Mortgage Bankers Association’s Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2019 (CREF19) in San Diego, California.

CUR Funding funds $6 million bridge loan in Brooklyn

Brooklyn, NY CUR Funding LLC, the lending arm of City Urban Realty through an affiliate entity, has funded a $6 million bridge loan secured by a portfolio of mixed-use buildings in Fort Greene and Clinton Hill.

Peck, Stephens, Rotchford and Staikos of HFF secures $165 million in financing for One Boerum Place

Brooklyn, NY Holliday Fenoglio Fowler, L.P. (HFF) has secured $165 million in financing for the development of One Boerum Place, a 21-story, mixed-use condominium development.

Appel, Schwartz, Fisher, Collins and Cotter of JLL Capital Markets finance $95 million

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.

Arbor closes two NYC loans totaling $4.8 million

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. 

Klein and Goldstein of HFF arrange $32 million in financing for Caesura; Worked on behalf of borrower, Jonathan Rose Cos.

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.