Category: Finance

Bronx, NY Charles Cotsalas, senior vice president/senior director of NorthMarq’s Long Island-based regional office secured the $4.5 million refinance for Montefiore Medical Center, a 20,000 s/f class A medical office property located at 3316 Rochambeau Ave.

Brooklyn, NY Stephen Katz, managing director of GCP Capital Group LLC has arranged a $17.975 million mortgage. The loan was placed for a six-story multifamily apartment building containing 107 units, located in the Gravesend neighborhood.  

Queens, NY Cushman & Wakefield served as the exclusive advisor to Great Atlantic Construction Inc. in the procurement of $13.4 million in financing for two adjacent development sites, totaling 237,000 buildable s/f, located at 89-25 and 89-26 162nd St. in Jamaica. The bridge loan was provided by Lightstone Capital Markets.

New York, NY Berkadia has acquired Central Park Capital Partners (CPCP), a boutique real estate capital advisory firm focused on arranging joint venture investments and structured capital from international

Queens, NY Madison Realty Capital (MRC) closed a $21.4 million first mortgage loan collateralized by a 78,313 s/f, class A commercial building in the Bellerose neighborhood. AB Capstone, a repeat borrower with MRC, will utilize the funds to refinance previous debt and support final leaseup and stabilization of the asset.

New York, NY Holliday Fenoglio Fowler, L.P. (HFF) has hired Bob Tonnessen as a director focused on debt and equity placement transactions in its New York office.

Manhattan, NY George Smith Partners has established a bi-coastal presence with the opening of an office in Midtown. Industry veteran Ed Steffelin has joined the firm as senior VP on the Malcolm Davies team, and will oversee the new office, which is located at 750 Lexington Ave.

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.

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.

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:

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.