News:
Brokerage
Posted: March 28, 2023
Betesh of Meridian Capital Group arranges $19 million in financing for a multi-use garage and retail space
Manhattan, NY Meridian Capital Group has arranged $19 million in financing for a multi-use garage and retail space.
The loan was provided by TriState Capital and was negotiated by Meridian senior managing director, Morris Betesh, and vice president, Omar Ferreira, who are based in the company’s New York City headquarters.
The property, located at 4320 Broadway, was constructed in 2004 and is comprised of a parking garage that is 100% leased to two retail tenants: Staples and Radnet Mid Rockland Imaging. The 72,609 s/f property, 51,475 s/f attributable to its parking garage, also leases exterior signage space to a billboard company with frontage on Broadway.
“We are pleased to have obtained this refinance for our client, a top-tier parking operator and owner in New York City. Despite the challenging capital market environment, our lending partner demonstrated the creativity to provide a compelling structure for the borrower,” said Betesh.
Tags:
Brokerage
MORE FROM Brokerage
Residential real estate consultancy and brokerage firm Nancy Packes, Inc. rebrands as NPI
Manhattan, NY The NYC-based premier residential real estate consultancy and brokerage firm, Nancy Packes Inc., has rebranded as NPI. Helmed by Seth Rosner, most recently the firm’s managing partner and now president, the company has been intricately involved in hundreds of Tri-State new developments and conversions, spearheading the full project life cycle, from assessment/pre-dev.
 (2).gif)
Columns and Thought Leadership
Hunt CRE question and answer: Choosing a real estate agent - by David Hunt
First, we will only work with one agent exclusively. The primary reason is that we want that agent to legally represent our client’s interests. In New York State, a real estate agent has a fiduciary
A guide to finding the right NYC property management company - by Sanjay Gandhi
Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
.gif)