Zlotowitz and Kessner of Eastern Union arrange $9.5 million in financing

ABJ Properties, run by Ben and Joe Soleimani, has closed the acquisition of a "Manhattan Ave. portfolio," 12 buildings with 101 total combined units. Eastern Union Funding, one of the country's largest private mortgage brokerage companies serving the national commercial real estate sector, finalized the sale with a $9.5 million loan. Arranged by Ira Zlotowitz and Meir Kessner, respectively president and senior managing director at the firm, the loan covers 80% of the building's value. It was provided by Customers Bank and features a 3.75% interest rate without recourse. "Eastern Union, and our client, believes in the area strongly. We believe in the long-term value here," Zlotowitz said. "The investment strategy was well-executed, making the deal serviceable and smooth till closing." The properties are located at 492, 496, 498, 500, 506, 508, 510 and 514 Manhattan Ave.; 317 West 120th St.; 301 West 121st St.; 309 West 121st St. and 312 West 121st St.

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