Meridian Capital Group, America’s most active deal maker, arranged $2.6 million in financing for the refinance of a cooperative property located in Cedarhurst, NY.
The 10-year loan, provided by a regional bank, features a fixed rate of 3.50% and full-term interest-only payments. This transaction was negotiated by Meridian Vice Presidents, Judah Hammer and Michael Ryback, who are both based in the company’s New York City headquarters.
The property, located at 272-300 Cedarhurst Avenue in Cedarhurst, is a 47-unit cooperative property. Residents enjoy close proximity to the Long Island Rail Road Station and are a short walk from Cedarhurst Park, as well as surrounding restaurants and shops.
“Cedarhurst has become a desirable neighborhood for families, seeking a home in a quiet and safe community outside of New York City,” said Mr. Ryback. “Thanks to the property’s location, as well as Meridian’s strong relationship with the lender, we were able to negotiate a favorable loan with full-term interest-only payments,” he added.
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