Grussgott and Hirsch of Meridian arrange $61 million in financing

Meridian Capital Group recently arranged financing in the amount of $61 million for the acquisition of a rental building with commercial space and parking located at 15 Cliff St. in the Financial District. The 31-story building contains 156 apartment units, 1,800 s/f of retail/commercial space, and a 4,734 s/f garage. Charles Grussgott and Abe Hirsch of Meridian's New York office negotiated on behalf of Lalezarian Properties to secure this loan. The firm also recently arranged $183.865 million in financing for the Kings/Queens Portfolio, a collection of 22 multifamily buildings in Brooklyn, Queens and Staten Island, totaling 2,104 units and six commercial spaces. Abe Katz and Elliot Treitel of Meridian's N.J. office negotiated to secure a rate of 5.875% over a seven-year term.