Meridian Capital Group, America’s most active dealmaker, arranged $34 million in financing to refinance a luxury multifamily and retail property located in in Downtown Brooklyn.
The seven-year loan, provided by a national savings bank, features a fixed rate of 3.65%. This transaction was negotiated by Charles Grussgott, who is based in the company’s New York City headquarters.
The property, located on Gold Street in the heart of Downtown Brooklyn, is a 13-story, 138-unit, elevator luxury apartment building with ground level retail space, as well as a parking garage. The property completed construction in 2010 and offers tenants exceptional amenities, including a modern lobby with 24-hour concierge, valet service, a fitness center, and a covered on-site parking garage. The property is a short distance from the F, A, C, 2, 3, N, R, W, 4 and 5 subway lines and is situated between the Manhattan Bridge and the Brooklyn Queens Expressway, offering direct access to Manhattan.
“This refinance benefit from the outstanding location, top-tier sponsorship and the quality of the property, which in combination allowed Meridian to negotiate favorable and flexible terms, including a three-year extension option,” said Mr. Grussgott.
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