Hirsch and Friend of Meridian Capital arrange $120m in financing; Five-year loan, provided by Ladder Capital

Meridian Capital Group, one of America's most active debt brokers, negotiated $120 million in financing for the purchase of 30 Park Ave., a multifamily property. The five-year loan, provided by Ladder Capital, features a fixed-rate of 2.87% and interest-only payments for the full term. This transaction was negotiated by Meridian Capital Group senior managing director, Abe Hirsch, and vice president, Akiva Friend, who are both based in the company's New York City headquarters. Constructed in 1955, 30 Park Ave. is a 20-story, 237-unit multifamily building with 3,500 s/f of professional space and a 142-space parking garage. The property is located on the northwest corner of Park Ave. and East 36th St. in the Murray Hill neighborhood and is in close to Grand Central Terminal. This central location also avails tenants of the abundant amenities, restaurants and nightlife in Murray Hill.