Weinstock of Meridian negotiates first mortgage loan: $32 million

Meridian Capital Group has recently arranged a first mortgage loan in the amount of $32 million for the refinance of 222 West 83rd St. on the Upper Westside. The property is 13-story high-rise building consisting of 111 residential apartments and four commercial units. Avi Weinstock of Meridian's New York office successfully negotiated a low fixed interest rate of 5.85% with five years of interest-only payments with a local lender. Founded in 1991, Meridian Capital Group is one of the nation's largest mortgage brokerages serving the multifamily and commercial real estate sectors. The company is based in New York City with additional offices in N.J., Penn., Md., Ill., Fla. and Calif. Working with a wide variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multifamily, co-op, office, retail, hotel, healthcare, self-storage, industrial, and construction properties. Nationally, Meridian reported more than 2,250 transactions in 2008, totaling over $11.5 billion.