MERIDIAN CAPITAL GROUP ARRANGES $10.5M FINANCING FOR MIXED-USE PROPERTY

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NEW YORK CITY — Meridian Capital Group has arranged $10.5 million in permanent financing to refinance a mixed-use property in Manhattan’s Lower East Side neighborhood. Located at 139 Essex Street, the five-story property features 18 apartments and 1,200 square feet of retail space. The property was purchased by the sponsor 14 months ago and has undergone significant renovation and was at 100 percent occupancy at the time of financing. The seven-year loan, provided by a regional balance sheet lender, features a 4.07 percent fixed rate and two years of interest-only payments. Judah Hammer and David Bollag of Meridian’s New York City office negotiated the transaction.

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