Meridian Capital Group arranges $24 million in bridge financing for in-construction property

New York, NY Meridian Capital Group arranged $24 million in financing to refinance a development on Sherman Ave.

The 30-month loan features a prime-based rate and was negotiated by Meridian vice presidents Eli Serebrowski and Eli Finkel, who are based in the company’s New York City headquarters.

“The sponsor is an extremely experienced developer who has built many buildings in the New York area. He tasked us with getting the best terms possible and to close very quickly. His comment to us at closing was that he has never had a more pleasant experience with a construction loan before, both on the banks side and with the brokers. It was a smooth, clean and transparent process,” said Serebrowski.