Meridian Capital Group, America’s most active debt broker, arranged $19.5 million and $17 million in permanent financing for two flex-office and industrial properties located in the Gowanus neighborhood of Brooklyn.
The seven-year and 10-year loans were both provided by a balance sheet lender and were negotiated by Meridian Vice President, Shamir Seidman, who is based in the company’s New York City headquarters.
The first property, located at 77 19th Street, consists of four stories and 188,000 square feet of space. The second property, located at 168 7th Street is a three-story, 91,000 square foot building. The Gowanus neighborhood is located between Carroll Gardens and Park Slope, which are two of Brooklyn’s most sought after neighborhoods. In addition to being a hub for start-up companies and tech innovators, the neighborhood also offers a variety of cultural and historical attractions, including Prospect Park, the Brooklyn Museum and the Brooklyn Public Library. Both properties are in close proximity to the Gowanus Expressway and are a short walking distance from the F, G, D, N, R and W subway lines.
“Gowanus is historically known as an industrial neighborhood and in recent years has been evolving into a high-demand area for new businesses and innovative technology brands,” explained Mr. Seidman. “Meridian demonstrated Gowanus’ rapid economic and environmental transformation to lenders and negotiated two separate loan closings with favorable terms only a few days apart, which is a testament to the level of activity in the area,” 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