$42 M.-Plus in Apartment Building Financing
Laura Kusisto Feb. 23, 2011, 8:53 a.m.
Meridian Capital Group has negotiated $42.7 million in financing for several buildings spanning the five boroughs.
Two six-story apartment buildings on West 107th Street in Manhattan, totaling 31 apartment units and four retail spaces, have received a $3.5 million loan. The loan features a 4.05 percent rate and is interest only for the five-year term. The transaction was negotiated by Avi Weinstock and Josh Rhine.
A 113-unit, six-story apartment building on 147th Street in Flushing, Queens, scored a new $8.4 million mortgage. The loan features a fixed-rate of 4.48 percent and a 10-year term. The transaction was negotiated by Judah Hammer.
A 41-unit, six-story apartment building on Brighton Fourth Street in Brooklyn received a new $2 million mortgage. The loan features a rate of 3.77 percent and a five-year term. The transaction was negotiated by Avi Weinstock.
A four-story apartment building on 96th Street in Brooklyn has scored a $5.475 million mortgage, featuring a fixed rate of 4.38 percent and a 10-year term. The transaction was negotiated by Isaac Filler.
Meridian also negotiated a new mortgage for $1.15 million on a 27-unit, four-story apartment building on 80th Street in Jackson Heights, Queens. The loan’s rate is 4.13 percent, with a 10-year term. It was negotiated by David Zlotnick and Chaim Tessler.