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Eastern Union Funding Arranges $5.625 Million Acquisition Loan for Harlem Portfolio Trade

Monday, March 23, 2015

Historically low interest rates locked in as longtime Manhattan operator makes latest push into Harlem market

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NEW YORK, NY – March 23, 2015: Eastern Union Funding, the fastest-growing commercial real estate mortgage brokerage serving the national sector, negotiated the purchase money mortgage for an Upper West Side three-building portfolio on behalf of Manhattan-based ABJ Properties.

Located on the Upper West Side, the mostly-multifamily buildings traded for $7.5 million. Brothers Ben and Joe Soleimani of ABJ Properties purchased the 45 residential units and two commercial spaces from Action Housing LLC. 

Eastern Union President Ira Zlotowitz and Meir Kessner, senior managing director, negotiated a five-year non-recourse loan at 3.125 percent with a regional balance sheet lender.

“Certainty of execution is not an option in this market, it’s an imperative. In this department, our client never fails to deliver. That lets us do what we do best and produce a highly competitive acquisition loan,” Zlotowitz said.


About Eastern Union Funding: Founded in 2001, Eastern Union Funding is, according to Crain’s NY and Inc. 5000, the fastest-growing debt brokerage serving the national commercial real estate sector and one of the top 10 non-direct-lender financial intermediaries on Mortgage Bankers Association’s  annual survey. Eastern Union’s sophisticated infrastructure is premised on our continued presence as the most trusted advisers in the industry, closing loans with over 85 lending sources regularly. With trust at the core of our corporate model, Eastern Union has arrived as a top-tier mortgage company. Our company’s trusted adviser anthem has prompted accolades for outstanding performance and a host of individual awards for Eastern Union’s real estate professionals. Our loan products include multi-state, multi-site portfolios, as well as deals financing smaller, single-property transactions. Eastern Union currently places an average of $3 billion every 12 months, and that number continues to increase. Eastern Union, which operates nationwide, is headquartered in New York, with offices in New Jersey, Maryland and Israel.. For more information, please visit: http://www.easternuc.com/.

 

 

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