Meridian Capital Groupnegotiated a $30 million loan for the refinance of a mixed-use property located in New York, NY on behalf BLDG Management.
The five-year loan features a fixed-rate of 2.85 percent and was provided by a regional balance sheet lender.
This transaction was negotiated by Meridian Capital Group managing director Carol Shelby, and vice president Dani Sabesan, who are both based in the company’s New York City headquarters.
The property, located at 330 Bleecker Street, totals 199 apartments and 3,800 s/f of retail space.
“Meridian leveraged our unique relationship with the lender to have the prepayment penalty waived and close the transaction in a short 30-day timeframe,” said Shelby.
Meanwhile, the company’s Carlsbad, CA-based Seth Grossman and Greg Reed and Kristen Croxton of Capital One’s Newport, CA-office, negotiated an $18 million mortgage for the refinance of a multifamily property located in Liverpool, NY.
The 25-year self-liquidating loan features a competitive fixed-rate of 4.63% and was provided by a life insurance company.
Grenadier Village totals 534 units and is located at 100 Kings Park Drive in Liverpool, NY, along the banks of the Seneca River.
“Capital One Multifamily Finance and Meridian worked seamlessly together to provide the client with the best debt options available to meet their needs,” said Grossman. “This transaction is another demonstration of Capital One’s commitment to put their client’s needs first and structure best-in-class financing solutions. Greg and Kristen approached me to place the financing alongside them after determining that a life company execution was the best alternative for their client,” he added.
Meridian also announced a $14 million loan for the refinance of a flex office property located in the Gowanus neighborhood of Brooklyn, NY on behalf of PDS Development Corporation.
The seven-year loan features a competitive fixed-rate of 3.88% and was provided by a local savings bank.
This transaction was negotiated by Meridian vice president Shamir Seidman, who is based in the Company’s New York City headquarters.
The two three-story buildings, totaling 33 commercial spaces across 87,900 s/f, are located at 505 Carroll Street in Gowanus.
“Given the momentum in the Park Slope/Gowanus sub-market, the owners were able to take advantage of today’s low interest rates and significant upside in value to cash out this property,” said Seidman.
“Meridian leveraged our extensive knowledge of the market and lender relationships to obtain competitive financing terms with a new lender on behalf of the client,” he added.
