Dealmaker: Meridian Capital Group Arranges $196M for Office, Condo Properties

Meridian Capital Group, New York, arranged $196 million in financing for office and condo properties in New York City.

In Manhattan’s Financial District, Meridian Executive Vice President Jeff Weinberg, Senior Managing Director Rael Gervis and Vice President Richard Sutton arranged $100 million to refinance office building 90 Broad Street.

A balance sheet lender provided the loan to Princeton International Properties Corp., New York.

90 Broad Street stands 25 stories tall; its 413,000 square feet of square footage is currently 97 percent occupied. The building contains several ground floor retail tenants.

Meridian also arranged $96 million of senior financing and $42.6 million in mezzanine financing for ground-up construction of a condominium property at 39 West 23rd Street in the Flatiron District. Senior Managing Director Adam Hakim, Senior Vice President James Murad and Director Andrew Iadeluca secured the senior financing from a balance sheet lender and the mezzanine financing through a Wall Street bank.

Anbau Enterprises, New York, will develop the dual-tower project on a block-through site with frontage on both West 23rd and West 24th Streets. FAO Schwartz toy store formerly occupied the site.

When complete, the condo property will include a 24-story tower on West 23rd Street and a 10-story tower on West 24th Street totaling 48 residential units plus one retail unit. The property will total 117,000 gross square feet.