Slate Purchases Union Square Property for $107.5MM With Sale and Financing by Meridian

Meridian Capital Group announced today that its Institutional Investment Sales Group, led by Helen Hwang, has advised Arnold Simon of 12 Broadway Realty LLC in the sale of 60 East 12th Street to a partnership between Slate Property Group and Alcion Ventures for $107.5 million. The buyers financed their acquisition with a loan from Heitman, which was arranged by a Meridian team led by Rael Gervis.

Completed in the 1960s, 60 East 12th Street contains 133 residential units and 5,100 square feet of ground-level retail space, all of which is serviced by an attached parking garage. Located at the southeast corner of Broadway and East 12th Street, the 13-story, trophy-quality multifamily property is located in one of the most desirable neighborhoods in the city. The property’s unique location, nestled between Union Square and Greenwich Village, offers an unmatched living experience as a result of countless lifestyle amenities in the nearby area and convenient access to points throughout New York City.

A Meridian team of Helen Hwang, Karen Wiedenmann, Brian Szczapa, Ernie Nichols, and Nicholas Dailey represented the seller in the off-market transaction.

“Union Square is such a desirable location that it is extremely rare to buy a property of this size and potential,” said Helen Hwang, senior executive managing director and head of meridian’s Institutional Investment Sales Team.

Helen Hwang, senior executive managing director of Meridian’s Institutional Investment Sales group, can be reached at (212) 468-5930 or hhwang@meridiancapital.com.