Long Island City, NY – Meridian Capital Group has arranged $60,000,000 in financing for 33-00 Northern Boulevard in Long Island City. This mixed-use warehouse/office complex boasts approximately 500,000 square feet of rentable space. The property is currently leased to several city agencies in addition to several other tenants. Avi Weinstock and Seth K. Grossman of Meridian’s New York office negotiated on behalf of the borrowers to secure a fixed term loan with 2 years of interest-only payments.

The history of this property is noteworthy. Built by the Ford family in the early 20th century, the building was used to produce the model T Ford. Roughly 100 years later, the borrower has gradually converted the property from a warehouse to office building.

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.