Meridian Capital Group

Meridian Capital Group Arranges $6 Million in Permanent Financing for a Multifamily Brownstone Property Located in New York, NY

July 23, 2016

Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, negotiated a $6 million loan to refinance a multifamily property located at the corner of East 78th Street and Fifth Avenue in New York, NY.

The ten-year loan, provided by a regional balance sheet lender, features a competitive fixed-rate of 3.30% and interest-only payments for the first five years. This transaction was negotiated by Meridian Capital Group Vice President, Zev Feder, who is based in the Company’s New York City headquarters.

The five-story brownstone property, known as The Barclay Mansion, totals four units and is located at the corner of East 78th Street and Fifth Avenue in Manhattan.

“Many of the lenders who looked at the transaction were unable to lend over $1 million per unit,” said Mr. Feder. “Meridian was able to negotiate the balance sheet financing with a local lender who understood the value of this very desirable location,” 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

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