Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, arranged a $2.3 million mortgage for the refinance of a mixed-use property located in New York, NY.
The seven-year loan features a competitive fixed-rate of 3.50% and was provided by a regional balance sheet lender. This transaction was negotiated by Meridian Capital Group Associate, David Oheb, who is based in the Company’s New York City headquarters.
The mixed-use property totals three residential units and 1,140 square feet of retail space. The property, located at 526 Ninth Avenue, is in the Hell’s Kitchen submarket of Manhattan across from the newly developed Hell’s Kitchen Cassa Hotel.
“Given the property’s location in the heart of the Hell’s Kitchen renaissance, Meridian was able to negotiate a below-market interest rate with multiple extension options,” said Mr. Oheb. “This transaction is illustrative of attractive market conditions in which lenders have a positive outlook on the growth potential of property values in the area,” he added.
Founded in 1991, Meridian Capital Group, LLC is one of the nation’s largest commercial real estate finance and advisory firms. Meridian is headquartered in New York with offices in New Jersey, Maryland, Illinois, Florida and California. Working with a broad array of capital providers, Meridian arranges financing for transactions ranging from $1 million to more than $500 million for multifamily, co-op, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction properties. www.meridiancapital.com