News:
Brokerage
Posted: October 28, 2013
Piller of Meridian places $7.4 million acquisition loan
Meridian Capital Group, LLC has negotiated a $7.4 million mortgage for the purchase of two multifamily properties.
The 10-year loan features a fixed-rate of 3%, one year of interest-only payments and was provided by a regional balance sheet lender. This transaction was negotiated by Meridian Capital Group vice president, Ben Piller, who is based in the company's N.Y.C. headquarters. The properties include a five-story, 50-unit building on Adrian Ave. and a five-story, 42-unit building on Marble Hill Ave.
"Meridian leveraged its unique and longstanding relationship with the lender to obtain highly favorable terms on an expedited schedule to meet the sponsor's time constraint," said Piller.
Tags:
Brokerage
MORE FROM Brokerage
Century Cricket Centre to open first U.S. location near Bryant Park in 14,000 s/f lease
Manhattan, NY Century Cricket Centre, an Australian-backed indoor cricket and sports-tech concept, will open its first U.S. location in a 14,000 s/f at 25 W. 39th St. near Bryant Park following a 15-year lease arranged by Lee
Quick Hits
Columns and Thought Leadership
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
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt
You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
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,
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
.gif)
September Promotion
