Meridian Capital Group, America’s most active dealmaker, arranged $68 million in acquisition financing for a luxury mixed-use building located in Brooklyn, NY on behalf of Trinity Place Holdings.
The 24-month loan features a floating rate of 3.72% over the 30-day LIBOR and full-term interest-only payments. Meridian Senior Managing Director, Drew Anderman, Vice President, Grant Carlson, and Senior Vice President, Josh Berman, who are all based in the company’s New York City headquarters, negotiated the financing for this transaction.
Located at 237 11th Street in Brooklyn’s Park Slope neighborhood, the newly built luxury building spans 12 stories and contains 105 residential units in addition to more than 6,200 square feet of retail space, which is partially leased to Starbucks. The property offers a variety of five-star amenities, including washers and dryers in all units, stainless steel appliances, tenant-controlled HVAC systems, and private outdoor terraces. Community benefits include a doorman, landscaped rooftop terrace, courtyard garden, fitness center, tenant lounge, and parking garage. Residents of 237 11th Street also enjoy panoramic views of the New York Harbor and the Manhattan skyline from the top floors and rooftop.
Situated on the border of Brooklyn’s Park Slope and Gowanus neighborhoods, the property is one block from the F, G, and R trains at the 4th Avenue / 9th Street subway station and a short walk from a plethora of dining, shopping, and entertainment options, including Whole Foods and Prospect Park.
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