News: Brokerage

GCP Capital Group LLC arranges multiple mortgages totaling $162.267m

GCP Capital Group LLC, one of the nation's most active companies specializing in investment real estate finance, has arranged financing in the amount of $162.267 million for the following properties: * $80 million for a 6-story apartment building containing 272 units, located in the East Harlem section of Manhattan. Paul Greenbaum, managing member of GCP, arranged the financing. * $8.5 million for a 6-story apartment building containing 19 units, located in the Gramercy Park section of Manhattan. Adam Hakim, senior associate of GCP, arranged the financing. * $3.69 million for a 5-story mixed-use apartment building containing 50 units and 2 stores, located on LaFontaine Ave. in the Bronx. Adam Brostovski, principal of GCP, arranged the financing. * $1.827 million for a portfolio of 3 two-story buildings containing a total of 12 units, located throughout Ridgewood, Queens. Matthew Albano, senior broker of GCP arranged the financing. * $1.1 million for a 4-story apartment building containing 7 units, located on Loring Place in the Bronx. Brostovski arranged the financing. * $7.35 million for a partially vacant, 8-story office building comprised of 46,900 s/f, located in the Bronx. Brostovski arranged the financing. * $6 million for a 6-story elevator mixed-use building containing 10 apartments and 1,900 s/f of retail space, located on Ninth Ave. in Manhattan. David Sessa, senior associate of GCP, arranged the financing. * $29 million land loan for a to-be-built luxury condominium building comprised of 126,200 s/f, located in the Hudson Sq. neighborhood of downtown Manhattan. Hakim arranged the financing. * $10.2 million construction loan for the development of a 7-story building containing 36 apartments and ground floor retail of 5,000 s/f, located on Fulton St. in Brooklyn. Albano arranged the financing for this transaction. * $9.4 million for a 7-story, mixed-use building containing 7 apartments and 1 commercial unit, located in the SoHo. Hakim arranged the financing. * $5.2 million for 3 four-story residential buildings containing a total of 15 apartments and 3 commercial units, located in Long Island City. Albano arranged the financing. GCP manages three North American private equity funds that have invested $1.2 billion in over 50 portfolio companies. GCP has monetized 35 of these investments, returning $2.2 billion in proceeds. The funds have made investments in the business services, energy, financial services, insurance and telecommunications industries. GCP generally makes controlling or influential minority investments of $10 million to $50 million in companies with enterprise values of $20 million to $250 million.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account