Serebrowski and Schwartz of Meridian arrange $7.2 million in permanent financing; Weber negotiates $4 million for mixed-use portfolio

Manhattan, NY Meridian Capital Group has arranged $7.2 million in permanent financing for the refinance of two commercial condos located in the SoHo and NoHo neighborhoods.

The five-year loan, provided by a balance sheet lender, features a fixed rate of 3.63%. This transaction was negotiated by Meridian vice president, Eli Serebrowski and associate, Corey Schwartz.

The two commercial condos, which are located at 129 Grand St. in SoHo and 19 Bond St. in NoHo, total four units with tenants including Laicale Hair Salon and Adore Floral. The properties are located in neighborhoods close to a wide variety of restaurants, fashion, art and public transportation.

“We had the pleasure of working with this client in the past and we knew what was expected from this execution,” said Serebrowski. “Our deep knowledge of the area, as well our expertise in the retail condo asset class made it possible for us to procure a five-year deal from a trusted lender for these high quality assets”.

Additionally, Meridian arranged $4 million in permanent financing for the refinance of a five-property mixed-use portfolio located in the Boerum Hill neighborhood of Brooklyn.

The 10-year loans, provided by a balance sheet lender, feature competitive fixed rates of 3.60% and 30-year amortization schedules. These transactions were negotiated by Meridian associate, Jason Weber.

The properties are located at 396, 398 and 400 Atlantic Ave. and at 379 and 379-A Pacific St. Built between 1899 and 1901, the portfolio totals 12 residential units and three ground-floor retail spaces, all located near restaurants, retailers and local conveniences. 

“Meridian was able to negotiate a cash-out refinancing package for the five properties by structuring a 10-year loan at a highly favorable fixed-rate of 3.60%, which perfectly aligned with our borrower’s goals,” said Weber.

Boerum Hill is known for its history as an early Dutch settlement and is currently home to many young families as well as a vibrant arts community. The neighborhood is in close proximity to Barclays Center, the Brooklyn Art Museum (BAM) and Prospect Park. Residents also enjoy immediate access to the Atlantic Terminal, which provides direct routes to Manhattan, Queens and Long Island via the 2, 3, 4, 5, B, D, N, R and Q subway lines and the Long Island Railroad.