Feder of Meridian secures $10.85 million first mortgage-four Manhattan buildings

Meridian Capital Group has recently arranged a first mortgage loan in the amount of $10.85 million for the purchase of four apartment buildings located on East 82nd St. on the Upper East Side. The properties all consist of six stories and contain a total of 106 residential apartments. Zev Feder of Meridian's New York office successfully negotiated a low fixed interest rate of 5.625% with a local lender for a term of 9 years. The deal closed in 45 days from date of contract. Founded in 1991, Meridian Capital Group LLC is one of the nation's largest mortgage brokerages serving the multifamily and commercial real estate sectors. The company is based in New York City with additional offices in New Jersey, Pennsylvania, Maryland, Illinois, Florida, California, and Texas. Working with a wide variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multifamily, co-op, office, retail, hotel, healthcare, self-storage, industrial, and construction properties. Nationally, Meridian reported more than 2,250 transactions in 2008, totaling over $11.5 billion.