3333 Henry Hudson Boulevard - Bronx, NYBronx, NY Meridian Capital Group, one of the country’s most active debt brokers, arranged a $36 million underlying cooperative loan and a $5 million line of credit on behalf of Whitehall Tenants Corp. The subject property, The Whitehall, is a cooperative property located in the Riverdale neighborhood.
The 15-year loan, provided by a New York-based commercial bank, features a fixed-rate of 3.75% and interest-only payments for the initial 10-year term. This transaction was negotiated by Meridian managing director, Allan Lieberman, who is based in the company’s New York City headquarters.
The 22-story, 432-unit Whitehall building was constructed in 1970 and features a white façade, a health club and spa, indoor swimming pool, five-level, 496-car garage and 24-hour concierge. It is located at 3333 Henry Hudson Blvd. and includes 21 professional office spaces units. The property is managed by Rose Associates.
Allan Lieberman, Meridian Capital Group“The co-op needed to recapitalize the outstanding debt for earmarked capital improvement projects,” said Lieberman. “Meridian arranged a consolidation of their first and second loans and monies drawn on their credit line into a new underlying mortgage with a favorable rate and terms.”
Founded in 1991, Meridian Capital Group is America’s most active debt broker and one of the nation’s leading commercial real estate finance advisory firms. In 2015, Meridian closed over 3,900 loans totaling more than $35 billion in transaction volume with 210 unique lenders, equating to $135 million per business day. Since inception, the company has closed more than $240 billion in financing with the full complement of capital providers, encompassing local, regional and national banks, CMBS lenders, agency lenders, mortgage REITs, life insurance companies, credit unions and private equity funds. Meridian arranges financing for many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, healthcare, student housing and self-storage properties. Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Florida and California.
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