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Eastern Union Achieves Major Loan Closures Across 121 Lenders in 2024

In a year defined by tough market conditions and high interest rates, Eastern Union, one of the leading commercial real estate brokerages in America, has successfully closed loans with 121 lenders across the country. This achievement marks a significant milestone, showcasing the firm’s resilience and adaptability in a challenging environment.

Founded in 2001, Eastern Union has carved a niche in the commercial real estate sector by providing financing and capital market advisory services. The brokerage accomplished successful closings in 33 states in 2024, which is indicative of both its extensive reach and diverse capabilities within various property types.

Among the major loan deals undertaken by Eastern Union was a remarkable $72 million construction loan aimed at developing 24-01 Queens Plaza North. This impressive 19-story residential building will feature 117 luxury condo units located in Long Island City, Queens, New York. The transaction was notably secured by Chaim Greenfeld, a vice president at Eastern Union, highlighting the firm's ability to manage high-value deals efficiently.

In addition to this landmark project, Eastern Union sustained its momentum by closing diverse transactions throughout the year, further solidifying its position as a reliable player in the commercial mortgage market. The firm showed remarkable versatility by supporting a range of property types—totaling 20 different property types—demonstrating its expertise and commitment to meeting the unique financial needs of its clients.

Abe Bergman, the president and co-founder of Eastern Union, commented, "The Eastern Union brokerage team devotes a great deal of energy to nurturing business relationships with the full spectrum of commercial lenders. Our brokers take pride in carefully matching the right lender to the right mortgage opportunity."

Eastern Union’s adaptability was evident not only in the types of loans closed but also in its expanding geographic presence. The firm opened a new office in Denver, Colorado, to complement its existing locations in Brooklyn, New York, Woodmere, New York, Chestnut Ridge, New York, Howell, New Jersey, and Bethesda, Maryland. This expansion indicates a robust strategy to enhance service delivery and client reach across the nation.

Among the other notable transactions for 2024 was a $51.5 million refinancing package for a self-storage complex in Virginia Beach, VA, led by David Merkin from the Mid-Atlantic Group at Eastern Union. The brokerage demonstrated its capabilities in restructuring financial arrangements through a $46.2 million refinancing deal for a multifamily property located in Columbus, Ohio, overseen by senior managing director Michael Muller.

Also noteworthy was the successful arrangement of a $24 million refinancing to support a mixed-use building construction with 57 units situated in Brooklyn's Flatbush neighborhood. This deal was secured by Motti Blau and Mendy Pfeifer, senior officials at Eastern Union.

Furthermore, the firm executed a $20.4 million refinancing deal aimed at converting a six-story, 137-unit hotel in Plano, Texas, into an assisted living facility. This project demonstrates the adaptability of Eastern Union in addressing evolving real estate needs, managed expertly by senior loan consultant Meir Abrahamson.

Eastern Union continues to provide exceptional commercial real estate services with a dedicated team of over 90 professionals. The firm is committed to delivering optimal financing solutions tailored to meet the diverse expectations of its clientele. With a remarkable portfolio entailing billions of dollars’ worth of transactions made annually, Eastern Union stands out by leveraging invaluable relationships with lenders across the country to secure the best possible rates and terms for its clients.

In a turbulent financial landscape, Eastern Union remains a beacon of stability and success in the commercial real estate market. As it moves into 2025, the firm is poised for further expansion and continues to be a trusted advisor for borrowers nationwide.

For additional insights, visit Eastern Union's official website.