Dealmaker: Meridian Capital Group Arranges $22M in New York

Meridian Capital Group, New York, arranged $22 million to refinance four New York City multifamily, retail and mixed-use properties.

In the Bronx, Meridian Vice Presidents Judah Hammer and Michael Ryback secured $19 million to refinance a three-property apartment and retail portfolio. A national balance sheet lender issued the five-year loan at 3.13 percent. It included a five-year extension option.

The portfolio totals 102 apartment units and 14,500 square feet of retail space. The retail property, anchored by Chase bank, is on East 161st Street near Yankee Stadium. The multifamily properties on Villa Avenue and East 205th Street border Van Cortlandt Park and the New York Botanical Garden.

Ryback noted that the lender cut its prepayment premium in half, “making the refinancing more attractive and financially advantageous for the client,” he said.

Meridian also arranged a $3 million 10-year loan from a regional balance sheet lender to refinance a mixed-use property on Manhattan’s Upper East Side. Managing Directors Brian Flax and Ami Levin and Associate Blake Orman negotiated the 4.50 percent loan, which includes five years of interest-only payments.

The East 71st Street property dates to 1872 and includes two rental apartments and 2,500 square feet of office space.