Meridian Inks $98M Loan For NY Assets

Meridian Capital Group has received $98 million financing for multifamily, retail and co-op properties located in New York, GlobeSt reports. A 28-unit co-op property in Manhattan was mortgaged for $3 million on a five-year term, while a $3.5 million mortgage was secured for a six-story building in Brooklyn on a 10-year term. A new $7 million mortgage on a 6,300-square foot retail condo on Broadway was also secured for a seven-year term.

A 336-unit multifamily building on River Drive South in Jersey City was mortgaged for $73 million and a multifamily property on Woodbine Avenue in Avenel secured a $6 million mortgage. Both mortgages were for 10-year terms. Also, a $5.5 million new mortgage was secured for 10 years for a multifamily building on La Salle street.

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