Meridian Capital Group, America’s most active dealmaker, arranged $2.6 million in financing to refinance a multifamily property located in in the Greenwich Village neighborhood of Manhattan.
The five-year balance sheet loan features a competitive fixed rate of 3.25%. This transaction was negotiated by Meridian Associate, Blake Orman, who is based in the company’s New York City headquarters.
20 West 9th Street, is a four-story, six-unit apartment building in the heart of Greenwich Village, one of Manhattan’s most desirable neighborhoods. Built in 1900, the charming pre-war townhouse was recently restored with apartments featuring spacious living rooms, original hardwood floors and classic tall townhouse windows. Situated on a tree-lined block, directly off of Fifth Avenue, the property offers direct access to the A, C, E, B, D, F, M, L, 1, 2 and 3 subway lines and is a short walk from Washington Square Park.
“Thanks to Meridian's long-term lender relationships, we were able to structure a loan that allowed the client flexibility to prepay the loan after the fourth year with no penalty,” explained Mr. Orman. “The loan also provided the client with additional proceeds in order to make improvements to the property.”
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