Meridian Secures $35M Construction Loan for Mixed-Use Building in Manhattan
NEW YORK CITY — Meridian Capital Group has secured $35 million in construction financing for a mixed-use condominium property on Manhattan’s Upper East Side. The borrower is Adellco LLC. The 24-month loan, provided by a balance sheet lender, features interest-only payments, a prime-based floating rate, and a one-year extension option. Once completed, 27 East 79th St. will feature eight two- to five-bedroom residences as well as a duplex townhouse with a private garden and a triplex penthouse. Retail space will also be available.