Meridian Capital Secures $19M in Financing for Mixed-Use Property in Brooklyn
Located at 1122 Chestnut Ave. in Brooklyn, the seven-story building features 57 residential rental units and 12,600 square feet of ground-floor retail space.
NEW YORK CITY — Meridian Capital Group has arranged $19 million in construction take-out financing for the refinance of a mixed-use property located at 1122 Chestnut Ave. in the Midwood neighborhood of Brooklyn. The seven-year loan, provided by a local balance sheet lender, features a fixed rate of 4.00 percent. Blake Orman of Meridian negotiated the financing for the undisclosed borrower. The seven-story building features 57 residential rental units and 12,600 square feet of ground-floor retail space. Building amenities include high-speed elevators, parking with optional valet service, a laundry facility and a bicycle storage room.