Meridian Capital Group negotiated $16 million in permanent financing for an office and retail property located on West 30th Street in New York, NY.
The 12-year loan features a fixed rate of 3.88% and was provided by a local savings bank.
The transaction was negotiated by vice president Josh Rhine, who is based in the company’s New York City headquarters.
The 17-story property, located at 259 West 30th Street, contains 90,000 s/f of rentable office space and 10,000 s/f of ground floor retail space. Notable tenants include Urban Stages and Ippolita.
“Given the superior quality of the asset, Meridian was able to quickly make a market for the loan by soliciting interest from lenders and ultimately negotiated highly accretive financing on behalf of our client,” said Rhine.