Manhattan, NY Meridian Capital Group has negotiated $125 million in financing for the purchase of a mixed-use apartment building in the Murray Hill neighborhood.
The five-year deal features interest-only payments and was also structured across three other properties: 315 Fifth Ave., 114 West 86th St., and 540 Third Ave. Meridian senior vice president, Simon Rosenfeld, and executive vice president, Jeff Weinberg, who are based in the company’s New York City headquarters, negotiated the financing.
The Theatre House is a 22-story glass building located at 237 East 34th St. in Murray Hill, the site of the former 34th St. East Theatre, and offers elegant and contemporary residences alongside 7,000 s/f of indoor and outdoor communal space. All of the units in the Theater House feature open floor plans, floor-to-ceiling windows, individual temperature controls and high-efficiency HVAC systems, luxurious spa-style bathrooms with heated floors, kitchens with granite countertops and solid-wood cabinets, and a washer and dryer in each apartment.
Located at the intersection of Murray Hill and Kips Bay, Theater House is close to an array of stores and restaurants, including the shops at Herald Sq.; parks, with St. Vartan’s Park, Glick Park, and Bryant Park all within walking distance; and some of the city’s most famous attractions, including the Empire State Building, the United Nations Headquarters, and the Broadway theater district. The property is accessible, as Grand Central Terminal and East 34th St. Ferry Landing are both nearby, as is the 6 subway line at the 33rd St. Station.
“The exceptional quality of the asset and premium location made this an attractive loan and Meridian generated significant interest from lenders, ultimately allowing us to structure financing that suited the borrower’s needs and helped secure the desired proceeds for the purchase of the Theatre House,” said Rosenfeld.