Meridian Capital Group

Meridian Capital Group Arranges $60 Million in Financing for 237 11th Street, a Multifamily Property in Brooklyn, NY

June 17, 2021

Meridian Capital Group, America’s most active dealmaker, arranged $60 million in financing to refinance 237 11th Street, a multifamily property in the Park Slope neighborhood of New York, NY on behalf of Trinity Place Holdings.

The 24-month loan, provided by a balance sheet lender, features a rate of 2.85% over 30-Day LIBOR, full-term interest-only payments, and three 12-month extension options. This transaction was negotiated by Meridian Senior Managing Director, Drew Anderman, Senior Vice President, David Bollag, and Director, Alan Blank, who are all based in the company’s New York City headquarters.

Located at 237 11th Street in Park Slope, the 12-story, class-A multifamily property is comprised of 105 newly renovated apartments and ground floor retail space, which is occupied by Starbucks and an oral surgeon’s office. The residential units consist of studio-to-three-bedroom layouts featuring designer kitchens, custom bathrooms, high-end finishes, in-unit washers and dryers, and designer appliances, with select units boasting outdoor terraces and balconies. Community amenities include a residential courtyard, roof deck, exercise facility, package center, and parking garage.

“We were able to achieve a favorable rate on a partially-leased building during the tail end of COVID,” said Mr. Anderman. “This loan provided the borrower with prepay flexibility as the property stabilizes.”

Featuring:
Drew Anderman
Senior Managing Director
Origination
(212)612-0236
[email protected]
David Bollag
Senior Vice President
Underwriting and Loan Placement
(212)612-0262
[email protected]
Recent Articles | Back to News

NYC Retail Market Wakes Up in a Daze After Smoke Shop Day of Reckoning

Press Release
June 17, 2021

Meridian Arranges $23M Financing for NJ Resi Development 

Press Release
June 17, 2021

2024 Ones to Watch Industry Leaders: Ben Biberaj, Meridian Retail Leasing

Press Release
June 17, 2021

Meridian Retail Leasing Closes First Quarter with a Bang

Press Release
June 17, 2021

Is New York City still a viable investment option? - by Shallini Mehra

Press Release
June 17, 2021

Team Betesh arranges $110 million in financing to refinance an office property in Stamford

Press Release
June 17, 2021