Hammer of Meridian Capital arranges $7.1 million refinancing for 344-348 West 38th Street

Meridian Capital Group, LLC arranged a $7.1 million mortgage to refinance a mixed-use office and co-op property. This 13-story property, located at 344-348 West 38th St., is composed of 19 office suites and 23 residential co-op units. The co-op apartments are located on the upper five floors of the building. The $7.1 million loan, provided by a local savings bank, features a highly competitive fixed-rated of 4.27% and a five-year term. Mortgage finance advisor, Judah Hammer, who is based out of Meridian's New York City headquarters, negotiated the financing. "Despite the unique nature and composition of this office and residential property, we were able to get the bank comfortable with the arrangement," said Hammer. "Furthermore, we were able to catch treasury bills at a historically low point and rate lock at an opportune time on behalf of our client." Founded in 1991, Meridian Capital Group, LLC is one of the nation's largest commercial real estate finance and advisory firms. Meridian is headquartered in New York with offices in New Jersey, Maryland, Illinois, Florida and California. Working with a broad array of capital providers, Meridian arranges financing for transactions ranging from $1 million to more than $500 million for multifamily, co-op, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction properties. www.meridiancapital.com