Financial Digest

GCP Capital Group arranges nine mortgages totaling $67.94 million

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.

NCB originates $54 million for 23 New York housing co-ops

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:

Kolesar of KeyBank CDLI arranges $24.5 million in financing for Gilbane’s acquisition renovation of two NYCHA properties

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.

Cristi of Greystone provides $11.727 million in Fannie Mae loans

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:

Barone of Cartlon secures $47.5 million construction financing for RYBAK’s Coney Island development

Brooklyn, NY According to The Carlton Group. Ltd., managing director Ruth Barone has arranged $47.5 million in financing for RYBAK Developme...

Square Mile originates $71 million loan for The Rennie; Arranged by Flammang of Cushman & Wakefield

Manhattan, NY Square Mile Capital Management LLC has originated a $71 million loan secured by The Rennie, a newly-built condominium building...

Forman of Trez Forman Capital enters New York market with financing of $7 million construction loan in Astoria, Queens

Queens, NY Trez Forman Capital Group has continued its successful year by completing its first transaction in New York. The private lender c...

GCP Capital Group arranges seven mortgages totaling $59.2 million

New York, NY GCP Capital Group LLC has arranged mortgage financing totaling $59.2 million for the following seven deals: • $17 milli...

Hunt R.E. provides $120.6 million Fannie Mae financing for 39-property portfolio

Bronx, NY Hunt Real Estate Capital has provided $120.6 million in financing to facilitate the acquisition and rehabilitation of a multifamil...

SGR acts as legal counsel in $76.55 million financing deal

Brooklyn, NY Smith, Gambrell & Russell, LLP (SGR) served as legal counsel to Second Development Services, Inc. (SDS) in its $53.25 milli...