Hammer and Ryback of Meridian Capital negotiate $2.6 million loan

 

 

Cedarhurst, NY Meridian Capital Group has arranged $2.6 million in financing for the refinance of a 47-unit cooperative property located at 272-300 Cedarhurst Ave.

The 10-year loan, provided by a regional bank, features a fixed rate of 3.50% and full-term interest-only payments. This transaction was negotiated by Meridian vice presidents, Judah Hammer and Michael Ryback.

Residents are close to the Long Island Rail Road Station and Cedarhurst Park, as well as surrounding restaurants and shops.

“Cedarhurst has become a desirable neighborhood for families, seeking a home in a quiet and safe community outside of New York City,” said Ryback. “Thanks to the property’s location, as well as Meridian’s strong relationship with the lender, we were able to negotiate a favorable loan with full-term interest-only payments,” he added.

Founded in 1991, Meridian Capital Group is America’s most active deal maker and one of the nation’s leading commercial real estate finance and investment sales firms. In 2016, Meridian closed $35 billion in loan volume and sold over $2 billion in commercial properties. Since inception, the company has closed more than $270 billion in financing with the full complement of capital providers, encompassing local, regional and national banks, CMBS lenders, agency lenders, mortgage REITs, life insurance companies, credit unions and private equity funds. Meridian represents many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, healthcare, student housing and self-storage properties. Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida and California.