Meridian negotiates $58.1 million in financing for mixed-use and multifamily properties; Friedman places $16.7 million on 188 units and 10-store portfolio

January 27, 2014 - Front Section

Avi Weinstock, Meridian Capital Group, LLC

Meridian Capital Group, LLC, one of the leading national commercial real estate finance and advisory firms, arranged the following transactions totaling $58.1 million:
* A new mortgage in the amount of $12 million on a 117-unit, six-story multifamily building located on Argyle Rd. in Brooklyn. The loan features a rate of 2.9% and a 10-year term. Avi Weinstock and Chaim Tessler negotiated this transaction.
* A new mortgage of $16.7 million was placed on a portfolio of 12 multifamily and mixed-use buildings composed of 188 units and 10 stores located on Brook Ave. in the Bronx. The loan features a rate of 3.25% and a twelve-year term. Alan Friedman negotiated this transaction
* New mortgages totaling $14.45 million on two multifamily buildings composed of 45 units located on East 13th St. and East 12th St. in New York The loans feature rates of 3% and 10-year terms. Elliott Birnbaum negotiated these transactions.
*A new mortgage of $7.35 million was placed on two six-story multifamily buildings totaling 92 units located on Marble Hill Ave. in the Bronx. The loan features a rate of 3% and a 10-year term. Ben Piller negotiated this transaction.
* A new mortgage of $6.1 million on a 67-unit, six-story multifamily building located on East Kingsbridge Rd. in the Bronx. The loan features a rate of 3% and a five-year term. Chaim Tessler and Avi Weinstock negotiated this transaction.
*A new mortgage of $1.5 million was placed on a 43-unit, four-story multifamily building located on 42nd St. in Brooklyn. The loan features a rate of 3% and a 10-year term. Morris Diamant and Tzvi Krieger negotiated this transaction.
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