Transactions broke ground despite rising rates
Eastern Union secured loans with 121 different lenders across 33 states in 2024, including partnerships with 31 new lending institutions.
This occurred during a period marked by persistently high interest rates in the commercial real estate sector.
Meanwhile, the company's geographic expansion continued with the addition of a sixth office in Denver, Colorado, complementing its existing locations in Brooklyn, Woodmere, and Chestnut Ridge, New York, as well as Howell, New Jersey, and Bethesda, Maryland.
Eastern Union's transactions encompassed 20 different property types, diversifying its services in commercial lending.
"The Eastern Union brokerage team devotes a great deal of energy to nurturing business relationships with the full spectrum of commercial lenders," said president and co-founder Abe Bergman (pictured). "Our brokers take pride in carefully matching up the right lender to the right mortgage opportunity."
Among its transactions in 2024 was a $72-million construction loan for a 19-story, 117-unit luxury condominium development at 24-01 Queens Plaza North in Long Island City, Queens, secured by vice president Chaim Greenfeld.
The firm also arranged a $51.5-million refinancing package for a self-storage complex in Virginia Beach, led by senior managing director of the Mid-Atlantic Group David Merkin.
"Borrowers see Eastern Union as their trusted advisor because of our consistent ability to pinpoint the best sources of financing for their deals," said managing director Moshe Maybloom. "Our company has been delivering commercial mortgages for all property types for more than two decades."
Additional significant transactions included a $46.2-million refinancing package for a multifamily property in Columbus, Ohio, overseen by senior managing director Michael Muller, and a $24-million refinancing of a construction loan for a 57-unit, mixed-use building in Brooklyn's Flatbush community, secured by senior managing director Motti Blau and senior loan consultant Mendy Pfeifer.
The company, founded in 2001, employs more than 90 real estate professionals and specializes in both financing services and capital markets advisory services.
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