Queens, NY Meridian Capital Group has arranged $39 million in permanent financing for the refinance of Monte Excelsior, a multifamily property located in the Little Neck neighborhood.
The five-year loan, provided by a balance sheet lender, features a competitive fixed rate of 3.06%. This transaction was negotiated by Meridian executive vice president, Aaron Birnbaum, managing director, Carol Shelby, and vice president, Dani Sabesan, who are all based in the company’s New York City headquarters.
Monte Excelsior, located at 245-10/30 Grand Central Pwy., is comprised of three six-story elevator buildings totaling 240 units. The property also houses a parking deck and leased antenna. Residents have access to various amenities including 24-hour doorman service, recently renovated lobby and hallways, a laundry facility and an outdoor swimming pool. The property’s location allows easy access to both Manhattan and Eastern Long Island via the QM5 bus line, Long Island Railroad, Grand Central Pwy., Cross Island Pwy. and the Long Island Expressway. Long Island Jewish Medical Center and North Shore University Hospital are also in close proximity. Little Neck is known as one of the few suburban-like neighborhoods of New York City featuring predominately single-family homes, picturesque tree lined streets and a wide variety of restaurants and shops.
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