BLDG Taps Meridian to Arrange $39M in Debt for Queens Resi Tower

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Santander provided Lloyd Goldman’s BLDG Management $39 million in permanent debt to refinance a 240-unit rental building in the Little Neck neighborhood of Queens, a source has informed Commercial Observer.

The five-year mortgage, which closed last week, replaces a $40 million loan that Sovereign Bank provided BLDG for the purchase of the property in May 2011. The Manhattan-based firm paid $57.8 million for Monte Excelsior at the time, city records indicate.

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Meridian Capital Group’s Aaron Birnbaum, Carol Shelby and Dani Sabesanall of the brokerage’s New York City officeworked on the deal, which carries a fixed rate of 3.06 percent.

The multifamily property at 245-10/30 Grand Central Parkway is comprised of three six-story elevator buildings. The housing complex has a 24-hour doorman, as well as an outdoor swimming pool and laundry facilities for residents.

A few months back, Mr. Goldman’s firmwhich was founded by his uncle, the late Sol Goldmanrefinanced another rental property, The One, a 35-story tower in Jersey City, as CO reported. Meridian served as the broker on that transaction as well, arranging $165 million financing from Cornerstone Insurance & Financial Services.

A spokeswoman for Santander did not respond to a request for comment. A representative for BLDG did not return a call for comment.