Meridian Capital Group, America’s most active deal maker, arranged $3.6 million in financing for the refinance of a commercial property located in Manhattan’s Chinatown neighborhood.
The 10-year loan, provided by a national balance sheet lender, features a fixed rate of 4.39%. This transaction was negotiated by Meridian Managing Director, Brian Flax and Associates, Blake Orman and Ami Levin, who are all based in the company’s New York City headquarters.
The property, located at 27 East Broadway, is a seven-story, seven-unit commercial building in a prime retail and tourism corridor in Chinatown. The well-maintained property consists of office spaces from the second floor to the seventh floor with a retail space on the ground floor and a vault on the cellar floor. The property is a short distance from the F subway line at the East Broadway station and offers close proximity to the Manhattan Bridge and surrounding restaurants and shops.
“Thanks to the property’s prime location and Meridian’s strong lender relationships, we were able to negotiate favorable terms with a competitive balance sheet lender and close the loan in less than 60 days,” said Mr. Orman.
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