November 13, 2018, New York, NY – Meridian Capital Group, America’s most active dealmaker, arranged $42.9 million in financing to refinance the Fulton Plaza Apartments in New York, NY on behalf of Arik Lifshitz and a group of investors.
The 10-year loan, provided by a balance sheet lender and a mezzanine lender, features a rate of 4.92% and was negotiated by Meridian Executive Vice President, Avi Weinstock, and Managing Director, Josh Rhine, who are both based in the company’s New York City headquarters.
Located at 106 Fulton Street in Manhattan’s Financial District, Fulton Plaza Apartments consists of 81 residential units in addition to two floors of vacant professional space and a retail space currently leased to Burger King. The property is easily accessible via a myriad of transportation options, including the 2, 3, 4, 5, A, C, J and Z trains at Fulton Center.
Fulton Plaza Apartments is advantageously located near the popular Seaport District, which is situated along the East River and offers unparalleled views of the Brooklyn Bridge, Statue of Liberty, and the New York City and Brooklyn skylines. The area also features some of the oldest architecture in Manhattan, as the neighborhood can trace its roots back to the 17th century when it served as a vital commercial hub. Today, the Seaport District consists of popular retail, dining, and waterfront attractions such as SJP by Sarah Jessica Parker, 10 Corso Como, and the iPic Theaters.
“Meridian was able to leverage our unique relationships to negotiate very favorable terms with a senior and mezzanine lender for a top-tier sponsor and asset,” said Mr. Rhine.
“It was a pleasure working with the Meridian team,” said Mr. Lifshitz. “Once again, they delivered a flawless execution.”
Founded in 1991, Meridian Capital Group, LLC is one of the nation's largest commercial real estate finance and advisory firms. Meridian is headquartered in New York with offices in New Jersey, Maryland, Illinois, Florida and California. Working with a broad array of capital providers, Meridian arranges financing for transactions ranging from $1 million to more than $500 million for multifamily, co-op, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction properties. www.meridiancapital.com