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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.