Meridian Capital Group

Meridian Arranges $32M Financing for Midtown Office Building

June 25, 2024

Kaufman Organization has secured $32.25 million in financing for Kaufman Arcade, a 12-story office building at 132 West 36th Street in Midtown South. 

The 5-year non-recourse loan was negotiated by Morris Betesh, Justin Boruchov, and Jack McPhail of Meridian Capital Group. Constructed in 1922, this 200,000-square-foot building, with ground floor retail, has been managed by Kaufman Organization for over 70 years with a 92% occupancy rate. 

“Despite challenges in the office sector, Kaufman has been able to keep the asset well-occupied through a hands-on management approach and by providing top-tier service to their tenants. Meridian sourced a lender that understood the strength of the asset and sponsorship team behind it and provided a competitive financing package,” said Betesh. 

Featuring:
Morris Betesh
Senior Managing Director
Origination
(212)612-0105
[email protected]
Jack McPhail
Vice President
Underwriting and Loan Placement
212-612-0107
[email protected]
Read Article
Recent Articles | Back to News

Noam Aziz, 20

Article
June 25, 2024

Bravo Capital Lends $169M on Jersey City Apartments Project 

Article
June 25, 2024

Meridian Arranges $32M Financing for Midtown Office Building

Article
June 25, 2024

Team Betesh arranges $32.25 million in financing for Kaufman Arcade Building

Article
June 25, 2024

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

Article
June 25, 2024

Meridian Arranges $23M Financing for NJ Resi Development 

Article
June 25, 2024