News:
Brokerage
Posted: June 7, 2016
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 71st 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
Tags:
Brokerage
MORE FROM Brokerage
SoHo emerges as America’s most active trophy retail market as investors prioritize quality, Adirondack Capital Partners finds
Manhattan, NY Investors are increasingly concentrating capital in the country’s most coveted retail corridors, with SoHo emerging as the nation’s most active trophy retail market,
Quick Hits
Columns and Thought Leadership
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
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
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.
