Dealmaker: Meridian Capital Arranges $25M for Manhattan Mixed Use
Meridian Capital Group, New York, arranged $25 million to refinance properties in Manhattan’s Greenwich Village and Lower East Side.
Meridian arranged $21 million in financing to refinance a mixed-use property at at 159-161 Bleecker Street in the Greenwich Village neighborhood. The five-year loan, provided by national balance sheet lender, features a fixed rate of 3.63%.
Meridian Vice President Judah Hammer and Associate Daniel Neiss negotiated the transaction.
The property is an eight-story mixed-use building consisting of 20 luxury residential units on floors three through eight and four commercial spaces on the ground floor, lower level, mezzanine and second floors. Situated in the heart of Greenwich Village, the 30,000 rentable square foot building sits on a 5,000 square foot lot and benefits from 50 feet of frontage along Bleecker Street.
The apartments, comprised primarily of one- and two-bedroom units, feature private outdoor spaces. The property is in walking distance from the 1 subway line at Houston Street and the A, C, E, B, D, F and M subway lines at W. Fourth Street.
“Hammer said Meridian’s investment sales division is currently marketing the property for sale. It negotiated terms within 35-day timeframe.
Meridian also arranged $4 million in financing to refinance a mixed-use property at 26 Clinton Street on the Lower East Side.
The seven-year loan, provided by a balance sheet lender, features a fixed rate of 3.80%. Meridian Associate, Bryan Geffen arranged the transaction.
The building is a five-story mixed-use property, consisting of eight residential units from the second to the fifth floor and one retail space on the ground floor. Built in 2000, the property offers a short walk from the F, J, M and Z subway lines at the Delancey Street/Essex Street station, the J and Z subway lines at the Bowery Street station and the B and D subway lines at Grand Street.
“Meridian was able to leverage the strength of this asset, located in Manhattan’s desirable Lower East Side neighborhood, and its strong sponsorship to secure a below-market interest rate, along with a flexible pre-payment schedule,” Geffen said.
