Oct 14, 2015
Meridian Capital Group, America’s most active debt broker, negotiated a $3.2 million loan for the refinance of a multifamily property located in New York, NY.
The 10-year loan, provided by a local balance sheet lender, features a fixed-rate and a 30-year amortization schedule. This transaction was negotiated by Meridian Associate, Bryan Geffen, and Managing Director, Brian Flax, who are both based in the Company’s New York City headquarters.
The property, located at 9 West 27th Street, is a five-unit walk-up multifamily property. The property is conveniently located in the NoMad neighborhood of Manhattan, which is home to numerous notable restaurants and shops.
“Through our substantial relationship with lender, Meridian was able to compete with other offers on the table and win the assignment by offering a tailored loan that included a flexible prepayment penalty and a reduced interest rate,” said Mr. Geffen.
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