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Brokerage
Posted: October 28, 2013
Meridian Capital negotiates $40.7 million for retail and multifamily properties; Weinstock and Tessler arrange $12.9 million mortgage
Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, arranged the following transactions totaling $40.7 million:
* Meridian negotiated a new mortgage of $4.7 million on a retail center totaling 25,000 s/f located on Birch Hill Rd. in Locust Valley. The loan features a rate of 3.00% and a five-year term. Morris Diamant and Joseph Akerman negotiated this transaction.
* A new mortgage of $12.9 million was placed by Meridian on a 73-unit, seven-story multifamily building located on Ocean Ave. in Brooklyn. The loan features a rate of 3.13% and a seven-year term. Avi Weinstock and Chaim Tessler negotiated this transaction.
* Meridian negotiated a new mortgage of $9.3 million on two five-story multifamily buildings totaling 40 units located on Charles St. The loan features a rate of 3.13% and a seven-year term. Weinstock and Tessler negotiated this transaction.
* A new mortgage of $6 million was placed by Meridian on a 71-unit, six-story multifamily building located on Ocean Parkway in Brooklyn, NY. The loan features a rate of 3.25% and a seven-year term. Weinstock and Josh Rhine negotiated this transaction.
* Meridian negotiated a new mortgage of $5.6 million on a 101-unit, seven-story multifamily building located on Ocean Ave. in Brooklyn. The loan features a rate of 3.13% and a seven-year term. Weinstock and Tessler negotiated this transaction.
* A new mortgage of $2.2 million was placed by Meridian on a 10-unit, four-story multifamily building located on West 22nd St. The loan features a rate of 3.25% and a seven-year term. Weinstock and Michael Farkovits negotiated this transaction.
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