Weinstock and Rhine of Meridian arrange $21 million for Garden City Square; Hammer secures $17 million for multifamily portfolio refinance

Avi Weinstock, Meridian Capital Group

Josh Rhine, Meridian Capital Group

Judah Hammer, Meridian Capital Group

Brian Flax, Meridian Capital Group

Garden City, NY Meridian Capital Group recently arranged three transactions totaling $41 million.

Meridian arranged $21 million in permanent financing for the repositioning of Garden City Sq., a professional and medical commercial condo, on behalf of Benedict Realty Group. The seven-year loan features a fixed-rate of 3.875%, interest-only payments for the first five years and a five-year extension option. This transaction was negotiated by Meridian executive vice president, Avi Weinstock, and vice president, Josh Rhine. Garden City Sq., located at 711 Stewart Ave., is a two-story property that totals 116,000 s/f.

Meridian arranged $17 million in permanent financing for the refinance of a five-property multifamily portfolio in Brooklyn. The five-year loans feature fixed-rates of 3.00% and 3.13% and five-year extension options. These transactions were negotiated by Meridian senior vice president, Judah Hammer. The properties are located at 185 Clifton Pl., 1097 Dekalb Ave., 234 Franklin Ave., 417 Hart St. and 476 Pulaski St. in the Bedford-Stuyvesant area.

Meridian arranged $3 million in permanent financing for the refinance of a mixed-use property located on East 71^st St. on the Upper East Side.The 10-year loan features a fixed rate of 4.50% and five years of interest-only payments. This transaction was negotiated by Meridian managing director, Brian Flax, Ami Levin and associate, Blake Orman.

711 Stewart Avenue - Garden City, NY