East 93rd Street

New York, NY

325-Unit Co-Op Building
Financing Amount: $20,000,000

Challenge:

Secure a long-term senior loan to refinance the co-op’s existing debt and structure a line of credit to provide for planned and unforeseen capital expenditures.

Solution:

By tapping a proprietary lending program specifically designed for underlying co-op financing, Meridian negotiated a favorable 10-year, $17,500,000 mortgage loan at a rate of 4.16%, as well as a $2,500,000 line of credit, giving the co-op a reliable long-term financing solution.