News: Brokerage

Meridian Capital Group negotiates $29.7 million in financing for multifamily and cooperative properties in Manhattan, Brooklyn and Bronx

Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, has completed six mortgages totaling $29.7 million. The deals include the following: * A new mortgage in the amount of $1.85 million on an11-unit, seven-story multifamily building on Village Road North in Brooklyn. The loan features a rate of 3.13% and a 10-year term. Allan Lieberman of Meridian negotiated this transaction. * A new mortgage of $8 million was placed by Meridian on a 117-unit, 16-story co-op building on West 75th St. The loan features a rate of 3.43% and a 10-year term. Steve Geller and Nicoletta Pagnotta of Meridian negotiated this transaction. * A new mortgage in the amount of $6.75 million on a 154-unit, 19-story co-op building on Fifth Ave. The loan features a rate of 3.42% and a 10-year term. Geller and Pagnotta negotiated this transaction. * A new mortgage of $5.5 million was placed by Meridian on a 71-unit, six-story multifamily building on Ocean Ave. in Brooklyn. The loan features a rate of 3.25% and a 10-year term. Cary Pollack of Meridian negotiated this transaction. * A new mortgage in the amount of $5.4 million on five multifamily buildings totaling 202 units located on Sheridan Ave. and East 224th St. in Bronx and Edgecombe Ave. The loan features a rate of 3.5% and a 10-year term. David Zlotnick and Michael Ryback of Meridian negotiated this transaction. * A new mortgage of $2.2 million was placed by Meridian on a 21-unit, five-story multifamily building on West 160th St. The loan features a rate of 3.63% and a seven-year term. Zlotnick and Ryback negotiated this transaction.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,