MERIDIAN CAPITAL GROUP ARRANGES $10 MILLION IN FINANCING FOR NEW YORK CITY
OFFICE/LOFT BUILDINGS
New York, NY – Meridian Capital Group has arranged $10,000,000 in financing for 58 and 60-62 East 11th Street in New York City. The 48,000 square foot property consists of two adjacent office/loft buildings with ground floor retail space. Allan Lieberman and Seth K. Grossman of Meridian’s New York office negotiated on behalf of the borrower to secure a fixed rate of 5.75% upon application.
Located adjacent to New York University in downtown Manhattan, the East 11th Street property has a prime location. Positioned in between Union Square Park and Astor Place, the property occupies one of the city’s most popular and heavily traveled corridors. The building is also close to several different subway lines. The ground floor retail space is the headquarters and showroom to a world-renowned antiques dealership.
Founded in 1991, Meridian Capital Group LLC is one of the nation’s largest mortgage brokerages serving the multifamily and commercial real estate sectors. The company is based in New York City with additional offices in New Jersey, Pennsylvania, Maryland, Illinois, Florida, California, and Texas. Working with a wide variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multifamily, co-op, office, retail, hotel, healthcare, self-storage, industrial, and construction properties. Nationally, Meridian reported more than 2,350 transactions in 2007, totaling over $16.5 billion.
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