Meridian Capital Group has arranged $60 million in financing for The York multifamily property, located on the Upper East Side of Manhattan, on behalf of BLDG Management.
The 10-year loan, provided by a life insurance company, features a fixed rate of 3.73 percent and full-term interest-only payments.
The transaction was negotiated by Meridian managing director Carol Shelby.
The York, located at 435 East 79th Street, is a 13-story, 233-unit multifamily property with three ground-floor retail spaces, and a parking garage in Yorkville.
Amenities include a 24-hour doorman, a concierge, a fitness center, on-site laundry facilities, and a live-in superintendent.
“This is the second refinance that we’ve negotiated for BLDG Management in less than a month and we are very familiar with their business plans, which have proven to be successful in the market,” said Shelby.
“The York’s desirable location and various amenities attracts a wide range of home seekers, and given the client’s impressive portfolio and reputation, we were able to achieve a favorable structure and full-term interest-only payments.”