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Brokerage
Posted: July 18, 2017
Grussgott of Meridian Capital Group negotiates $34 million refinance for Brooklyn multifamily
Brooklyn, NY Meridian Capital Group arranged $34 million in financing to refinance a multifamily and retail property located downtown.
The seven-year loan, provided by a national savings bank, features a fixed rate of 3.65%. This transaction was negotiated by Charles Grussgott.
The property, located on Gold St., is a 13-story, 138-unit, elevator apartment building with ground level retail space and a parking garage.
The property completed construction in 2010 and offers tenants exceptional amenities, including a modern lobby with 24-hour concierge, valet service, a fitness center, and a covered on-site parking garage. The property is a short distance from the F, A, C, 2, 3, N, R, W, 4 and 5 subway lines and is situated between the Manhattan Bridge and the Brooklyn Queens Expressway, offering direct access to Manhattan.
“This refinance benefit from the outstanding location, top-tier sponsorship and the quality of the property, which in combination allowed Meridian to negotiate favorable and flexible terms, including a three-year extension option,” said Grussgott.
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