Transactions

Case Studies

East 63rd Street

New York, NY

494-Unit Co-Op Building
Financing Amount: $25,000,000

Challenge:

Secure competitive fixed-rate financing with a significant interest-only period on behalf of The Royal York, a leading co-op on Manhattan’s Upper East Side, for the purpose of refinancing its existing mortgage and to provide for future capital improvements.

Solution:

Meridian used its unique understanding of the co-op’s financials, which we accumulated over 12 years of working closely with the co-op board, in order to tailor a seven-year underlying co-op mortgage loan from local savings bank at 3.96%, with full-term interest only.


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