Meridian Capital Group, America’s most active dealmaker, arranged $60 million in financing with S3 Capital Partners for the construction of a multifamily property in the Mott Haven neighborhood of the Bronx, NY on behalf of JCS Realty.
The 24-month floating-rate loan, provided by S3 Capital, features a LIBOR-based rate, full-term interest-only payments and was negotiated by Meridian Managing Director, Isaac Filler, and Associate, Yossi Koschitzki, who are both based in the company’s New York City headquarters.
“S3 Capital is excited to continue our long-standing relationship with JCS Realty and their team. They have a proven track record and will deliver a great product in a rapidly growing sub-market,” said Joshua Crane, Managing Principal at S3 Capital.
Located at 276 Grand Concourse in the Mott Haven neighborhood of the Bronx, NY, the multifamily property will stand 12 stories tall and contain 215 units across approximately 190,000 square feet. Residents will benefit from immediate proximity to the 4 and 5 subway lines at the 138th Street – Grand Concourse station in addition to various shops, restaurants, supermarkets, and schools.
“Relationships always play an important role in negotiating deals and are often what allow us to achieve exceptional outcomes for clients. In turbulent market conditions and moments of uncertainty, relationships matter that much more and this transaction is a result of great relationships, where we were able to bring S3 and JCS Realty together again for another spectacular development in Mott Haven,” said Mr. Filler.