Lieberman of Meridian arranges $25 million in financing for Upper East Side condop; placed a $24 million senior underlying co-op mortgage and $1 million unsecured line of credit

Meridian Capital Group, LLC has arranged a $24 million senior underlying co-op mortgage and a $1 million unsecured line of credit (a total of $25 million)for The Royal York condop building located near York Ave. between East 63rd St. and East 64th St. on the Upper East Side. The seven-year financing features a fixed-rate of 3.96% and is interest-only for the full term. The loan, provided by a local savings bank, was negotiated by Allan Lieberman, a managing director based in Meridian's N.Y.C. headquarters. The Royal York is a 12-story, 494-unit doorman condop near Rockefeller University and the New York Presbyterian-Cornell Medical Center. Lieberman said, "By representing The Royal York as their mortgage broker since 1998, Meridian Capital Group was uniquely positioned to advise the co-op on this transaction. Our familiarity with the building and its finances enabled us to implement a tailored solution to reduce debt service by refinancing at an opportune time in the market and recapitalizing debt for future capital improvements." 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.