News: Brokerage

Pagnotta and Geller of Meridian place permanent financing totaling $20 million

Manhattan, NY Meridian Capital Group has arranged permanent financing for three properties totaling $51.5 million.

345 East 93rd Street - Manhattan, NY 345 East 93rd Street - Manhattan, NY

• $20 million in permanent financing for the refinance of Mill Rock Plaza, a cooperative property located on the Upper East Side. The 32-story property totals 298 units and is located at 345 East 93rd St., between First and Second Aves., in the Yorkville neighborhood. The 20-year loan, provided by a life insurance company, features a competitive fixed rate of 4.14% and full-term interest-only payments. This transaction was negotiated by Meridian managing director, Steve Geller, and vice president, Nicoletta Pagnotta.

333 Ovington Avenue - Brooklyn, NY 333 Ovington Avenue - Brooklyn, NY

• $17.1 million in permanent financing for the refinance of a multifamily property located in the Bay Ridge neighborhood of Brooklyn. The six-story, 120-unit Spanish Colonial style property is located at 333 Ovington Ave. between Third and Fourth Aves. The five-year loan, provided by a local balance sheet lender, features a competitive fixed rate of 3.25% and a 30-year amortization schedule. This transaction was negotiated by Meridian vice president, Isaac Filler.

156 Prince Street - Manhattan, N Y 156 Prince Street - Manhattan, N Y

• $14.4 million in permanent financing was placed for the refinance of a mixed-use property located in the SoHo neighborhood. The six-story property, located at 156 Prince St., is comprised of 22 apartments and two retail spaces totaling 1,100 s/f, which are occupied by Techno Solutions Group, Inc. and Juice Press. The five-year loan, provided by a balance sheet lender, features a fixed rate of 3.5%, 18 months of interest-only payments and a five-year extension option. Negotiations were handled by Meridian managing director, Scott Assouline, and vice president, Isaac Lifshitz.

MORE FROM Brokerage

CRESYN launches sales at boutique six-story development condo

Long Island Cit, NY Acre NY Realty has launched sales of CRESYN, a six-story boutique condominium at 37-28 Crescent St. Developed by ZD Jasper Realty and Winspire Development, with architecture by Lemay Architecture, D.P.C., the project introduces 39 refined residences designed around privacy, calm, and modern urban living.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

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,

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

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

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
A fresh start - by Shallini Mehra and Amit Doshi

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