Meridian Capital Group

Meridian Arranges Construction Financing for Inwood Condos

March 31, 2023

Meridian Capital Group arranged $9.8 million in financing for a residential condominium building in Northern Manhattan. The construction loan was provided by a regional bank and was negotiated by Meridian’s Reuben Hedaya, based in the company’s New York City headquarters.

The property, located at 140 Hillside Ave. in the Inwood neighborhood, will be constructed into a seven-story building composed of 20 residential units. The two penthouse units will include feature balconies, and planned amenities include recreational space on the building’s rooftop, and bicycle storage accessible to all tenants.

“This deal was met with a multitude of hurdles – namely a tumultuous interest rate environment and unfortunate building materials supply chain deficiencies, but the lender consistently maintained its belief in the project and saw the loan through to closing,” said Hedaya. “Given the developer’s impressive track record and commitment to delivering a premium product to the neighborhood, I have no doubt that this project will be a immense success.”

Featuring:
Read Article
Recent Articles | Back to News

New York City - A resilient market - by Shallini Mehra

Article
March 31, 2023

BK Mixed-Use Condo Lands $33M

Article
March 31, 2023

Highcap Group and Meridian Capital sell40,000 s/f for $22 million

Article
March 31, 2023

Top Leases in December Highlight Diverse Retail Landscape

Article
March 31, 2023

Meridian Capital Group Reports End-of-Year Activity

Article
March 31, 2023

Luxury furnishings company RH buys the building that contains its hotel

Article
March 31, 2023