New York

Oak Grove Capital Arranges $82M Loan for Manhattan Apartment Building

by Amy Works February 26, 2015

NEW YORK CITY — Oak Grove Capital has arranged $82 million in refinancing for 33 West End Avenue Apartments, a 211-unit apartment building located on Manhattan’s Upper West Side. The floating-rate loan has a 20-year term with a 35-year amortization and a one-year lockout. The 25-story apartment building features a variety of amenities, including 24-hour concierge services, a fitness center, a tenant lounge, shuttle services to the train station, in-unit and ground-floor laundry rooms and an outdoor terrace. C.W. Early of Oak Grove Capital arranged the Fannie Mae loan for the borrower, Atlantic Development.

February 26, 2015

Loans Mixed-Use New York Northeast

Trevian Capital Funds $22M Loan for Mixed-Use Property in Tribeca

by Amy Works February 25, 2015

NEW YORK CITY — Trevian Capital has funded a $22 million first-mortgage bridge loan for a five-story, 17,247-square-foot building in the Tribeca neighborhood of Manhattan. The loan was used to pay off a matured first mortgage and to fund the conversion of the upper floors into four full-floor residential condos and reconfigure the ground-level retail cellar and sub-cellar. Terms and details of the transaction were not disclosed.

February 25, 2015

Loans Multifamily New York Northeast

Meridian Capital Arranges $15.5M Loan for Multifamily Property in New York City

by Amy Works February 25, 2015

NEW YORK CITY — Meridian Capital Group has arranged $15.5 million in refinancing for a multifamily property in New York City. The seven-year loan, which was provided by a local savings bank, features a 3.37 percent fixed-rate and interest-only payments for the full term. Located at 1380 Riverside Dr., the 19-story property features 138 residential units and views of the Hudson River and George Washington Bridge. Isaac Filler of Meridian Capital’s New York City office negotiated the transaction. The name of the borrower was not released.

February 25, 2015

Mixed-Use New York Northeast

Upper West Side Development Site Sells for $13.3M

by Amy Works February 24, 2015

NEW YORK CITY — Citicore has brokered the sale of a development site located at 207 West 75th St. between Amsterdam and Broadway in the Upper West Side. Howard Neu purchased the 14,750-square-foot site for $13.3 million from Felipe Coello. The site features a 5,000-square-foot property, with a 2,500-square-foot basement. Beach Bum Tanning leases ground-floor space at the building on a month-to-month basis, while the second floor is currently vacant. Timour Shafran and Benjamin Shafran of Citicore brokered the transaction.

February 24, 2015

Grenadier-Village-Meridian-Capital-Group

Loans Multifamily New York Northeast

Meridian Capital, Capital One Arrange $18M in Refinancing for Multifamily Property in New York

by Amy Works February 23, 2015

LIVERPOOL, N.Y. — Meridian Capital Group and Capital One have arranged an $18 million mortgage for the refinancing for Grenadier Village, a multifamily property in Liverpool. The 25-year, self-liquidating loan, which was provided by a life insurance company, features a 4.63 percent fixed-rate. Located at 100 Kings Park Dr., Grenadier Village offers 534 apartment units. Seth Grossman of Meridian Capital and Greg Reed and Kristen Croxton of Capital One arranged the financing for the undisclosed borrower.

February 23, 2015

Loans Mixed-Use New York Northeast

Meridian Capital Arranges $30M in Refinancing for NYC Mixed-Use Property

by Amy Works February 20, 2015

NEW YORK CITY — Meridian Capital Group has arranged a $30 million loan for the refinancing for a mixed-use property in New York City. The borrower is BLDG Management. The five-year loan, which was provided by a regional balance sheet lender, features a 2.85 percent fixed-rate. Located at 330 Bleecker St., the property features 199 apartments and 3,800 square feet of retail space. Carol Shelby and Dani Sabesan of Meridian Capital arranged the financing.

February 20, 2015

Multifamily New York Northeast

Marcus & Millichap Arranges $1.3M Sale of Multifamily Property in Brooklyn

by Amy Works February 20, 2015

NEW YORK CITY — Marcus & Millichap has brokered the sale of an apartment building located at 469 Harman St. in Brooklyn. The six-unit apartment property sold for $1.3 million. Shaun Riley, Dan Greenblatt and Thomas Shihadeh of Marcus & Millichap’s Brooklyn office represented the seller and the buyer, both private investors, in the transaction.

February 20, 2015

Loans New York Northeast Office

Meridian Capital Arranges $40M Acquisition Financing for Office Property in NYC

by Amy Works February 19, 2015

NEW YORK CITY — Meridian Capital Group has arranged a $40 million loan for the acquisition of an office property located at 145 West 45th St. in New York City. The five-year loan, provided by a regional balance sheet lender, features a 3.5 percent fixed-rate and interest-only payments for the full term. A partnership led by the Aini family acquired the 12-story, 90,000-square-foot office building from an undisclosed seller. Rael Gervis and David Hayum of Meridian’s New York City office arranged the financing.

February 19, 2015

Multifamily New York Northeast

Ariel Property Advisors Brokers Sale of Two Bushwick Development Sites

by Amy Works February 19, 2015

NEW YORK CITY — Ariel Property Advisors has brokered the sale of two development sites at 406 Cornelia St. and 1536 Putnam Ave. in the Bushwick section of Brooklyn for $3.8 million, or $157 per buildable square foot. The properties are zoned for residential use and offer a combined total of 24,200 buildable square feet. The site at 406 Cornelia Street offers 13,200 buildable square feet and the site at 1536 Putnam Avenue offers 11,000 buildable square feet. Daniel Tropp, Michael Tortorici, Mark Spinelli and Jonathan Berman of Ariel Property Advisors represented the seller, a private owner, and procured the buyer, a developer, in the transaction.

February 19, 2015

New York Northeast Office

Dalan Management Buys Two Midtown South Office Buildings for $36M

by Amy Works February 18, 2015

NEW YORK CITY — Dalan Management has purchased two 12-story office buildings located at 10 and 12 East 33rd St. in New York City’s Midtown South neighborhood. The assets, which feature 22 full-floor office lofts and ground-floor retail space, sold for $36 million as part of a 1031 exchange. Additionally, the properties, which total 61,100 square feet, are zoned for conversion to residential or hotel space. Timour Shafran and Phil Fierro of Citicore represented Dalan, while Pavan Uttam of UP Real Estate Advisors represented the seller, Adee Associates, in the transaction.

February 18, 2015

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