Meridian Capital Group

Meridian Arranges $23M Financing for NJ Resi Development 

June 07, 2024

Meridian Capital Group arranged $22.8 million in financing for E Residences on Madison, a new development at 6207 Madison Street, West New York, NJ, for Echeverria Industries. The two-year loan features a floating rate of 3.50% over 30-day SOFR with full-term interest-only payments. Paul Gilbert of Meridian negotiated the financing.  

E Residences on Madison will offer amenities including residential floor lounges, a rooftop fitness center, and a community center with grills. The building will also feature indoor parking with EV charging stations. 

“Despite the challenging lending landscape, securing this financing underscores the project’s potential and our ability to navigate complex financial waters,” said Gilbert. “E Residences on Madison is a testament to sustainable living, enhancing residents’ lives while prioritizing environmental consciousness.” 

Featuring:
Paul Gilbert
Senior Vice President
Origination
(732) 301-3257
[email protected]
Read Article
Recent Articles | Back to News

NYC Retail Market Wakes Up in a Daze After Smoke Shop Day of Reckoning

Article
June 7, 2024

Meridian Arranges $23M Financing for NJ Resi Development 

Article
June 7, 2024

2024 Ones to Watch Industry Leaders: Ben Biberaj, Meridian Retail Leasing

Article
June 7, 2024

Meridian Retail Leasing Closes First Quarter with a Bang

Article
June 7, 2024

Is New York City still a viable investment option? - by Shallini Mehra

Article
June 7, 2024

Team Betesh arranges $110 million in financing to refinance an office property in Stamford

Article
June 7, 2024