New York, NY
494-Unit Co-Op Building
Financing Amount: $25,000,000
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.
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.