Brooklyn, NY Meridian Capital Group has arranged $4 million in permanent financing for the refinance of a mixed-use property. The five-year loan, provided by a national balance sheet lender, features a competitive fixed-rate of 3.28% and three years of interest-only payments. This transaction was negotiated by Meridian managing director, Brian Flax, associate, Blake Orman and associate, Ami Levin, who are all based in the company’s New York City headquarters. The property, located at 2971 Ocean Ave.in the Sheepshead Bay neighborhood is a three-story, 11,040 s/f mixed-use property and is comprised of eight apartments and four commercial units. Filled with rich history and culture, Sheepshead Bay is one of Brooklyn’s rapidly-growing residential and commercial neighborhoods. The property offers easy access to a variety of shopping, restaurants and public transportation, including the B and Q subway lines. “An interest-only period beyond one year is challenging to obtain in the current lending environment but was essential to making this loan work for our client,” said Flax. “Meridian’s strong reputation and positive, long-standing relationships with lenders helped us secure three years of interest-only payments at a very favorable rate for our client." Tags: