NEW YORK CITY—Meridian Capital Group has arranged a $36 million underlying cooperative loan and a $5 million line of credit for the Whitehall—an iconic cooperative property in the Riverdale section of the Bronx—on behalf of Whitehall Tenants Corp. Located at 3333 Henry Hudson Pkwy., the multifamily tower includes 21 professional office spaces units and is managed by Rose Associates.
The 15-year loan, provided by a New York-based commercial bank, features a competitive fixed-rate of 3.75% and interest-only payments for the initial 10 year term. The transaction was negotiated by Meridian managing director Allan Lieberman, who is based here in the company's New York City headquarters.
The 22-story, 432-unit property was built in 1970 and features a white façade, a full health club and spa, indoor swimming pool, five-level, 496-car garage and 24-hour concierge. It is.
“The co-op needed to recapitalize the outstanding debt for earmarked capital improvement projects,” says Lieberman. “Meridian arranged a consolidation of their first and second loans and monies drawn on their credit line into a new underlying mortgage with a favorable rate and terms.”
The 15-year loan, provided by a New York-based commercial bank, features a competitive fixed-rate of 3.75% and interest-only payments for the initial 10 year term. The transaction was negotiated by Meridian managing director Allan Lieberman, who is based here in the company's
The 22-story, 432-unit property was built in 1970 and features a white façade, a full health club and spa, indoor swimming pool, five-level, 496-car garage and 24-hour concierge. It is.
“The co-op needed to recapitalize the outstanding debt for earmarked capital improvement projects,” says Lieberman. “Meridian arranged a consolidation of their first and second loans and monies drawn on their credit line into a new underlying mortgage with a favorable rate and terms.”
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