Meridian Capital Group, America’s most active dealmaker, arranged $21 million in financing for the refinance of a mixed-use property located in the Greenwich Village neighborhood of New York City.
The five-year loan, provided by national balance sheet lender, features a fixed rate of 3.63%. This transaction was negotiated by Meridian Vice President, Judah Hammer and Associate, Daniel Neiss, who are both based in the company’s New York City headquarters.
The property, located at 159-161 Bleecker Street, is an eight-story mixed-use building, consisting of 20 luxury residential units on floors three through eight and four commercial spaces on the ground floor, lower level, mezzanine and second floors. Situated in the heart of Greenwich Village, the 30,000 rentable square foot building sits on a 5,000 square foot lot and benefits from approximately 50 feet of frontage along Bleecker Street. All of the luxury apartments, which are comprised primarily of one- and two-bedroom units, feature private outdoor spaces. The property is in walking distance from the 1 subway line at Houston Street and the A, C, E, B, D, F, and M subway lines at West Fourth Street. Tenants enjoy close proximity to renowned local restaurants, trendy boutique shops and numerous art galleries and tourist attractions.
“Meridian Capital Group’s investment sales division is currently marketing the property for sale, and was able to provide additional insight, which was helpful to my team,” said Mr. Hammer. “Given the building’s retail and apartment features, Meridian made a market for this financing opportunity and negotiated favorable terms within 35-day timeframe,” 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