Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, negotiated a $2.5 million mortgage for the refinancing of a retail property.
The 12-year balance sheet loan features a fixed-rate of 3.5%, a 25-year amortization period, and was provided by a local savings bank. This transaction was negotiated by Meridian associate, Jim Fiesel, who is based in the company's New York City headquarters.
The 7,000 s/f retail property houses a Chase bank branch on a long-term lease and is located at 7706 13th Ave. in the Dyker Heights neighborhood.
"Meridian was able to utilize our deep Brooklyn market knowledge and financing relationships to negotiate a mortgage with a low fixed rate, while maintaining flexibility in other aspects of the loan in line with the borrower's business plan for the asset," said Fiesel. Tags: