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Brokerage
Posted: August 11, 2014
Feder of Meridian Capital arranges $6 million in permanent financing
Meridian Capital Group, LLC, one of the leading national commercial real estate finance and advisory firms, negotiated a $6 million loan to refinance a multifamily property known as The Barclay Mansion.
The ten-year loan, provided by a regional balance sheet lender, features a fixed-rate of 3.3% and interest-only payments for the first five years. This transaction was negotiated by Meridian vice president, Zev Feder, who is based in the company's N.Y.C. headquarters.
The five-story brownstone property totals four units and is located at the corner of East 78th St. and Fifth Ave.
"Many of the lenders who looked at the transaction were unable to lend over $1 million per unit," said Feder. "Meridian was able to negotiate the balance sheet financing with a local lender who understood the value of this very desirable location," he added.
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