Hammer of Meridian Capital arranges $3.3 million mortgage for 1634 York Avenue; 10-year features fixed-rate of 3.95%

Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, negotiated a $3.3 million mortgage for the refinancing of a mixed-use property located on York Ave. on behalf of Phido Co. The 10-year loan features a competitive fixed rate of 3.95% and was provided by a local savings bank. This transaction was negotiated by Meridian vice president, Judah Hammer, who is based in the company's New York City headquarters. The four-story mixed-use property is located at 1634 York Ave., at the prime intersection of East 86th St. The building contains 14 residential units and two retail spaces totaling 3,600 s/f, one of which houses the Mansion Restaurant, a well-known Upper East Side eatery established over 60 years ago. "Given the outstanding location and strong sponsorship, Meridian was able to quickly tailor favorable long-term financing in-line with the borrower's specifications," said Hammer.