Meridian Capital completes $120.3 million in loans, including $40 million by Shelby and Sabesan

Meridian Capital Group, LLC, has completed the following transactions: Meridian negotiated a $10.6 million senior mortgage on behalf of Park Ave. South, LLC to refinance that entity's acquisition of a classic multifamily loft building located at 220 Park Ave. South in Manhattan. The five-year acquisition financing, provided by a local savings bank, features a favorable fixed-rate of 4.00% and an allowance for up to $2.2 million in mezzanine financing subordinate to the senior mortgage. Mortgage finance advisor, Allan Lieberman, who is based in Meridian's area headquarters, negotiated the financing. The nine-story, 38-unit loft-style property, built in 1900, contains 38 apartments and 2,650 square feet of ground level and mezzanine retail space. Haru, a popular, upscale Japanese restaurant occupies the retail space. 220 Park Avenue South features a recently renovated lobby, new elevators and a state-of-the-art video security system. "Our client required the certainty of a 50-day closing, consistent with the expiration of the sales contract," said Mr. Lieberman. "We're grateful to have accomplished this, in tandem with the borrower's negotiation of the mezzanine financing, by leveraging Meridian's in-house team to efficiently coordinate with the lenders, third party service providers and legal counsel, to meet the client's critical deadline," Lieberman added. A new mortgage of $40 million was placed by Meridian on a 240-unit, six-story multifamily building on Grand Central Pwy. in Little Neck. The loan features a rate of 4.28% and a five-year term. The transaction was negotiated by Carol Shelby and Dani Sabesan. Meridian negotiated a new mortgage in the amount of $25 million on a 13-story, 255,150 s/f office building on Queens Blvd. in Flushing. The loan features a rate of 4.38% and a 15-year term. The transaction was negotiated by Avi Weinstock. A new mortgage of $25 millionwas placed by Meridian on a 249-unit, 19-story co-op building on Riverside Dr. The loan features a rate of 4.8% and a 10-year term. The transaction was negotiated by Steve Geller and Nicoletta Pagnotta. Meridian negotiated a new mortgage in the amount of $12 million on a 6-story, 57,000 s/f office building on Spring St. The loan features a rate of 4.58% and a seven-year term. The transaction was negotiated by Cary Pollack and Charles Grussgott. A new mortgage of $5.215 million was placed by Meridian on a 65-unit, six-story multifamily building on Ocean Pwy. in Brooklyn. The loan features a rate of 4.25% and a 10-year term. The transaction was negotiated by Jacob Schmuckler and Joseph Taub. Meridian negotiated a new mortgage in the amount of $2.5 million on a 66-unit, six-story multifamily building on Lenox Rd. in Brooklyn. The loan features a rate of 4%. The transaction was negotiated by Weinstock. 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.