News:
Brokerage
Posted: September 23, 2013
Meridian Capital negotiates six finance deals totaling $67.8 million
Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, has negotiated the following six deals totaling $67.8 million:
* New mortgages totaling $12.05 million on four multifamily buildings totaling 183 units located on Carroll St., St. Paul's Place, Union St. and Ocean Ave. in Brooklyn. The loans feature rates of 3% and terms of 10-years and 15-years. Meridian's Chaim Tessler and Avi Weinstock negotiated these transactions.
* New mortgages totaling $40 million were placed on two multifamily buildings totaling 191 units located on Fifth Ave. and East 72nd St. The loans feature rates of 3.25% and 10-year terms. Meridian's Rael Gervis and Josh Simpson negotiated this transaction.
* A $5.9 million new mortgage was placed by Meridian on a 54-unit, six-story multifamily building located on 50th St. in Brooklyn. The loan features a rate of 3% and a 10-year term. Meridian's Morris Diamant and Steven Ribiat negotiated this transaction.
* A new $5.35 million mortgage on a 48-unit, six-story multifamily building located on Barclay Ave. in Queens. The loan features a rate of 3.25% and a 12-year term. Weinstock negotiated this transaction.
* A new $3 million mortgage was placed on a 24-unit, four-story multifamily building located on Lincoln Pl. in Brooklyn. The loan features a rate of 3% and a 10-year term. Weinstock and Michael Farkovits of Meridian negotiated this transaction.
* A new $1.5 million mortgage was placed on a 16-unit, four-story multifamily building located on Prospect Pl. in Brooklyn. The loan features a rate of 3% and a 12-year term. Meridian's David Zlotnick and Sam Shifer negotiated this transaction.
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, Arizona 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. www.meridiancapital.com
Tags:
Brokerage
MORE FROM Brokerage
REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium
Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
Quick Hits
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
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
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced