Meridian Capital Group, America’s most active dealmaker, arranged $240 million in financing to refinance an office building in the Hell’s Kitchen neighborhood of New York, NY.
The 10-year CMBS loan features full-term interest-only payments. This transaction was negotiated by Meridian Executive Vice President, Jeff Weinberg, and Senior Managing Director, Rael Gervis, who are based in the company’s New York City headquarters.
Located at 636 Eleventh Avenue, the 660,000 square foot office building, originally home to the Auerbach Chocolate Factory, is currently occupied by global advertising and public relations firm Ogilvy & Mather. The company signed a 20-year lease on the building in 2009. Situated between West 45th and West 46th Streets in Hell’s Kitchen, 636 Eleventh Avenue is located amongst bustling streets, eclectic restaurants, and old New York charm. The property enjoys close proximity to neighboring Chelsea, the Upper West Side, and the Theater District, and is accessible via the A, C, E, B, D, and 7 subway lines.
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