Meridian Capital Group, America’s most active debt broker, arranged $10.7 million in financing for the refinance of a multifamily property located in the Flushing neighborhood of Queens, NY.
The seven-year loan, provided by a balance sheet lender, features a competitive fixed rate of 3.13%. This transaction was negotiated by Meridian Vice Presidents, Eli Serebrowski and Jacob Schmuckler, who are based in the company’s New York City headquarters.
The property, located at 137-02 Northern Boulevard, is an eight-story, 71-unit multifamily property, consisting of 20 studios, 20 one-bedroom apartments and 31 two-bedroom apartments. Built in 2000, the elevator building features high-speed internet access, air conditioning, wheelchair accessible rooms and a concierge service. Tenants enjoy close proximity to the 7 subway line and the 7X Flushing Express line at the Flushing – Main Street station.
“Meridian was able to leverage its unparalleled New York City area banking relationships to provide an extremely competitive rate in a challenging interest rate environment,” said Mr. Serebrowski.
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