Meridian Capital Group arranged $104 million in acquisition financing for the purchase of The Hamilton multifamily property located on the Upper East Side of New York City on behalf of Bonjour Capital.
The seven-year loan, provided by a balance sheet lender, features a competitive fixed rate of 3.625% and three years of interest-only payments.
The transaction was negotiated by Meridian managing director Shaya Ackerman, and senior vice president Shaya Sonnenschein, who are both based in the company’s New York City headquarters.
The 38-story property totals 265 units and is located at 1735 York Avenue, on the northwest corner of East 90th Street, across the street from the Asphalt Green sports facility and along the East River Esplanade.
The building offers its tenants a fitness center, landscaped roof deck, children’s playroom, billiards lounge, fu24-hour garage, building-wide water filtration and complimentary shuttlebus service to the subway and shopping.
“Meridian was able to obtain uniquely favorable terms, including three years of interest-only payments, based on the high quality of the asset and its potential for value-add upside, the strength and reputation of the sponsor and Meridian’s active relationship with the lender,” said Ackerman.