Meridian Capital Group

Meridian Secures Refi on Hotel @ Times Square

March 13, 2023

Meridian Capital Group arranged $44.5 million in financing to refinance The Hotel @ Times Square, a 213-key hotel property in Midtown Manhattan. The transaction was negotiated by Meridian senior managing director Morris Betesh, managing directors Justin Boruchov and Tamir Kazaz, and VP Morris Dabbah.

Located at 59 W. 46th St. and 50-60 W. 47th St., The Hotel @ Times Square is located on a block-through property improved by three distinct and interconnected buildings. The 213-key hotel property includes 14 stories, 100,678 square feet, and prime Diamond District retail fronting on 47th Street.

“We are very grateful to our client who entrusted us wholeheartedly to execute this highly sensitive transaction on a short fuse,” said Betesh. “This was a true team effort with all parties working around the clock to successfully close in three weeks despite the many moving pieces. Meridian was able to tap a proprietary lender relationship to find a solution that will allow the sponsor to execute their business plan with the hotel going forward.”

Read Article
Recent Articles | Back to News

Synergy Fitness Inks Deal for 13K-SF Gym on the Upper East Side

Article
March 13, 2023

From Pizzas to Painting — Vesuvio’s Former 10th Ave Home Gets Colorful New Tenant

Article
March 13, 2023

Paint ’N Pour to Bring Painting Parties to Hell’s Kitchen

Article
March 13, 2023

Caffeena Coffee House Takes 4K SF at NoHo's 738 Broadway

Article
March 13, 2023

Meridian Closes First Agency Loan Since 2023 Ban With $173M Freddie Mac Deal

Article
March 13, 2023

Fast-Casual Food Places Conquering Midtown as Workers Return to Office

Article
March 13, 2023