MERIDIAN ARRANGES $25 MILLION FOR MANHATTAN CO-OP

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NEW YORK CITY — Meridian Capital Group has arranged a $24 million senior underlying mortgage and a $1 million unsecured line of credit for The Royal York, a condominium co-op located in Manhattan's Upper East Side. The 12-story building contains 494 units. The loan carries a 7-year term, a 3.96 percent fixed rate and interest-only payments for the full term of the loan. Allan Lieberman of Meridian's New York City office arranged the financing on behalf of the co-op through a local savings bank.

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