Meridian Capital Group arranged $14.4 million in permanent financing for the refinance of a mixed-use property in SoHo.
The five-year loan, provided by a balance sheet lender, features a fixed rate of 3.50 percent, 18 months of interest-only payments and a five-year extension option.
The transaction was negotiated by managing director Scott Assouline and vice president Isaac Lifshitz.
The six-story property, located at 156 Prince Street, is comprised of 22 apartments and two retail spaces totaling 1,100 s/f, which are currently occupied by Techno Solutions Group, Inc. and Juice Press. S
“With Prince Street representing the core of SoHo, we were able to negotiate highly favorable balance sheet financing with significant flexibility for this irreplaceable asset,” said Assouline.