NEW YORK CITY-Meridan Capital Group, LLC reports it has arranged $11.4 million in acquisition financing for two properties on the Upper East Side and another in Brooklyn.
The mortgage deals were on behalf of Ira Lifshutz and Oakwood Equities LLC for two mixed-use buildings in Manhattan—164 East 61st Street and 133 East 65th Street—that are adjacent to Central Park and for 102 Pierrepont St., a multi-family building, in Brooklyn Heights. All three buildings are fully vacant.
Meridian, headquartered in New York, secured a package of mortgages totaling $9.3 million for the East Side properties that feature 10 apartments that total 12,000 sf. The five-year loan features a rate of 3.75% and one year of interest-only payments.
The $2.1 million in acquisition financing for the six-story, six-unit, multifamily building in Brooklyn involves a five-year loan that features an initial floating-rate of 2.90% and interest-only payments for one year.
Meridian COO Daniel Heumann, Managing Director, Abe Hirsch and Associate Akiva Friend negotiated and closed all three transactions.
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