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FINANCING

Meridian Capital Group arranged over $41M in financing, including:$12.4M for four multifamily buildings totaling 199 units in Brooklyn(arranged by David Hayum); $10.4M for a 150k SF office building on Grand Concourse, the Bronx (arranged by Michael Kesselman);$7.2M for a 37-unit, six-story multifamily building on East 13th Street(arranged by Judah Hammer); and $7M on a 25-unit, six-story multifamily building on East 27th St (arranged by Rael Gervis).

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GCP Capital Group arranged over $36M in financing, including:$21.2M for nine five-story apartment buildings totaling 289 units and 2,700 SF of commercial space throughout the Bronx and $1.8M for a 37-unit, five-story walkup apartment building on Ellwood Street (both arranged by Adam Brostovski); as well as $9M for a three-story and eight-story double elevator building totaling 89 units in Yonkers and $3M for a 40-unit, five-story walk-up apartment building in the Bronx(both arranged by Paul Greenbaum).

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Meridian Capital Group VP Shamir Seidman also negotiated $7.7M in mortgage financing through an underlying co-op loan and share loan for the Tiffany Glass Building at 333 Park Ave South. Both loans were provided by a local community bank and feature rates of 4.13% and 4.4%, respectively.

CONSTRUCTION & DEVELOPMENT

Ellis Island’s culinary pavilion will be undergoing a renovation. It includes a new glass pavilion that will be a permanent enclosure, adjustable for al fresco or indoor dining. Construction is slated to begin in October for spring completion. The team: construction manager CNY Builders, architect Acheson Doyle Partners Architects, and proprietor Evelyn Hill Inc.

WASHINGTON DC 06.27.2017

THE WASHINGTON DC STATE OF THE MARKET

Matt Bronfman
Jamestown Properties
Anthony Lanier
EastBanc
Herb Miller
Western Development