Manhattan, NY Meridian Capital Group arranged $21 million in financing for the refinance of a mixed-use property located in the Greenwich Village neighborhood.
The five-year loan, provided by national balance sheet lender, features a fixed rate of 3.63%. This transaction was negotiated by Meridian vice president, Judah Hammer and associate, Daniel Neiss, who are both based in the company’s New York City headquarters.
The property, located at 159-161 Bleecker St., is an eight-story mixed-use building, consisting of 20 luxury residential units on floors three through eight and four commercial spaces on the ground floor, lower level, mezzanine and second floors. Situated in Greenwich Village, the 30,000 rentable s/f building sits on a 5,000 s/f lot and benefits from 50 ft. of frontage along Bleecker St.
All of the apartments, which are comprised primarily of one and two-bedroom units, feature private outdoor spaces. The property is in walking distance from the 1 subway line at Houston St. and the A, C, E, B, D, F, and M subway lines at West Fourth St. Tenants enjoy close proximity to renowned local restaurants, trendy boutique shops and numerous art galleries and tourist attractions.
“Meridian Capital Group’s investment sales division is currently marketing the property for sale, and was able to provide additional insight, which was helpful to my team,” said Hammer. “Given the building’s retail and apartment features, Meridian made a market for this financing opportunity and negotiated favorable terms within 35-day timeframe.”