Schwartz and Flax of Meridian Capital negotiate $6.8 million to refinance 300 Sullivan Place, Brooklyn

Multifamily financed by Meridian Capital.

Corey Schwartz, Meridian Capital

Brooklyn, NY Meridian Capital Group has arranged $6.8 million in permanent financing for the refinance of a multifamily property. The seven-year loan, provided by a balance sheet lender, features a competitive fixed-rate of 3.4%, interest-only payments for the full term and a step-down prepayment structure. This transaction was negotiated by Meridian associate Corey Schwartz, and managing director Brian Flax, who are both based in the company’s New York City headquarters. The six-story multifamily property, located at 300 Sullivan Place at the corner of Nostrand Ave., totals 68 units. The property was built in 1927 and has recently undergone renovations to increase revenue and tenant occupancy rates. “Meridian was able to negotiate a competitive seven-year, full-term interest-only loan, allowing the sponsor to use the additional proceeds for further improvements to the property and thereby increasing the value,” said Schwartz.

Tags: Brokerage

Reprint

Previous Story Next Story

Marcus & Millichap brokers $16.25 million sale of Ponce Bank flagship headquarters in the Bronx

Bronx, NY Marcus & Millichap negotiated the sale of a net-leased bank property occupied by Ponce Bank. The asset sold for $16.25 million. “This property drew tremendous interest as it was a

Williams Equities leases 100,000 s/f at 470 Park Avenue South

AEBOV Commercial Real Estate Brokerage sells 9,000 s/f parking lot at 616-622 Courtlandt Ave. for $3.45 million

AEBOV sells 9,000 s/f parking lot in the Bronx for $3.45m

SoHo emerges as America’s most active trophy retail market as investors prioritize quality, Adirondack Capital Partners finds

NYREJ 2026 Ones to Watch: Innovators in Commercial Real Estate Participation Options

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Construction Design & Engineering

JT Magen delivers expanded NYC flagship for Bonhams

Columns and Thought Leadership

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

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

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.