Meridian Closes $41.3 Million in Financing on 240 West 37th Street
Alessia Pirolo Oct. 2, 2012, 8 a.m.
Meridian Capital Group has negotiated a $41.3 million mortgage on an office building at 240 West 37th Street, between Seventh and Eighth Avenues. Investors Isaac Chetrit and Ray Yadidi purchased the building in 2007 for $44 million.
According to public records, Morgan Stanley has refinanced a first mortgage which it provided when the property was purchased. The loan features a rate of 4.83 percent and a 10-year term.
Meridian Capital’s David Hayum negotiated this transaction.
Built in 1905, the 131,000-square-foot and 11-story 240 West 37th Street is mainly occupied by several fashion-oriented tenants.