Meridian Closes $36 Million Fannie Mae Loan on Chelsea Court



Meridian Capital Group, LLC has closed on a $36 million Fannie Mae loan on the multifamily building Chelsea Court, at 250 West 19th Street, between Seventh and Eighth Avenues.

SEE ALSO: Meridian Arranges $29M Capital One Refi for Nashville Multifamily Property

chelsea court Meridian Closes $36 Million Fannie Mae Loan on Chelsea Court
250 West 19th Street.

The Fannie Mae loan was provided through Beech Street Capital. It  features a rate of 2.9 percent and a seven-year term.

B&L Management, a company which develops and manages apartment buildings in Manhattan, owns the 200-unit, 16-story multifamily building, which was built in 1986. It currently has an occupancy rate of 95 percent.

apirolo@observer.com