Meridian Capital Group secures $16.35 million loan from JPMorgan Chase for 103-Unit multifamily complex in Kew Gardens
Kew Gardens, NY Meridian Capital Group has secured $16.35 million in financing on behalf of BRG for Dale Gardens, a 103-unit multifamily complex located at 84-17 125th St. The loan was provided by JPMorgan Chase and was placed by Meridian’s Avi Weinstock and Chesky Klein.
Dale Gardens is a classic pre-war garden-apartment complex comprising multiple buildings, with 103 residential units arranged around a professionally landscaped interior garden with walking paths, mature plantings, and shaded seating areas. Located in the heart of Kew Gardens, the property offers residents convenient access to neighborhood shopping and dining along Lefferts Boulevard, nearby Forest Park, and a range of transit options, including the Kew Gardens LIRR station and E and F subway service, providing a direct connection to Midtown Manhattan.
The financing was structured with a 10-year term at a fixed rate of 5.95%. The refinancing enables the sponsor to lock in long-term, fixed-rate debt on the asset while positioning the property for continued stable operations.
“BRG is a well-established owner and operator with deep experience across the multifamily space,” said Avi Weinstock. “JPMorgan Chase was highly responsive throughout the process, and together with our team we were able to structure a long-term, fixed-rate solution that met the sponsor’s objectives and delivered certainty of execution in a dynamic rate environment.”