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Deals & Dealmakers

BLDG Management secures $60M loan on The York

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.”

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