Page 7 - New York Cooperator February 2019

v How many co-ops have you financed? What is your total dollar volume? With how many different lenders? What is the range of the loan size? Since 2011... $300,000 $500 + Million Meridian Capital Group ACME Mortgage 1,630+ $7.68 Billion 28 ? YOUR GUIDE TO INTERVIEWING UNDERLYING MORTGAGE BROKERS Steve Geller | Managing Director 212.612.0222 | sgeller@meridiancapital.com Nicoletta M. Pagnotta | Senior Vice President 212.612.0219 | npagnotta@meridiancapital.com Avi Geller | Vice President 212.612.0249 | ageller@meridiancapital.com Nobody closes more underlying co-op loans than Meridian. Shouldn’t you be working with NYC’s Most Active Dealmaker? Cooperator – Co-op Interview – October 2018.indd 1 8/30/18 6:37 PM warns. The implementation of Local Law 152 arrives in the wake of a number of deadly gas explosions in the city in the last few years—including one 2014 incident in East Harlem that killed eight people, and another one a year later in the East Vil- lage that resulted in two fatalities, accord- ing to The New York Times. In December 2016, Mayor Bill de Blasio signed several pieces of legislation into law to increase gas safety in New York City buildings. “Gas safety is important for all New Yorkers, and this legislative package will resolve numerous regulatory oversights. These bills will help protect tenants in the event of an outage, and require greater information sharing between City agen- cies and gas utilities to enhance safety,” said de Blasio in a statement at the time. “Most importantly, these reforms will ensure both property owners and utility companies are accountable for keeping buildings safe.” In a YouTube video explaining the new law, Mark Levine of New York prop- erty management company EBMG said: “It’s going to be super important for us as managing agents, and any other manag- ing agent out there, to have to know this and to keep on top of this. If you are on the board, ensure that your agent is on top of this as well on your behalf.” n David Chiu is an associate editor at The Cooperator. NEW GAS LINE... continued from page 6 accepted for approximately half of the units since sales opened in February. Of course, nothing within Amazon’s grav- itational field can remain unaffected. This past November, The Real Deal reported that in anticipation of the big HQ2 announce- ment, two Amazon employees from New Jersey and Queens preemptively purchased prices in the midst of marketing a project is units at Galerie. In the two weeks immedi- ately following the Amazon news, 33 deals the winter holidays,” and more uncommon were closed at the building, and developers still in Long Island City in general. With the have since filed paperwork with the state to arrival of HQ2, ‘unusual’ may become the raise unit price—which currently range from norm in Long Island City. $550,000 for a studio, to $2.55 million for a three-bedroom penthouse— with another price hike expected for this month. According to The Real Deal , “Tweaking not unusual, but it’s rare in the weeks before n Mike Odenthal is a staff writer at The Coop- erator. LIC CONDO... continued from page 6 lumbia Waterfront’s idyllic beauty, Red Hook’s burgeoning food scene, and Car- roll Gardens’ charming coffee shops and bakeries, 145 Carroll Gardens is truly centered at the heart of it all.” Coming in at second place in Strib- ling’s report is a 5,200-square-foot townhouse at 166 Lafayette Avenue that signed into contract with an asking price of $4,299,999. The 19th-century resi- dence features eight bedrooms and five bathrooms. The news was previously reported in The Real Deal. n David Chiu is an associate editor at The Cooperator. REPORT: $4.5M.. continued from page 6 COOPERATOR.COM THE COOPERATOR — FEBRUARY 2019 7