MERIDIAN ARRANGES $27.5M LOAN FOR BRONX MULTIFAMILY BUILDING

NEW YORK CITY —Meridian Capital Group LLC has arranged $27.5 million in financing for the purchase of a multifamily property, located in the Bronx, on behalf of Azure Partners LLC. The seven-year loan carries an interest rate of 3.1 percent and two years of interest-only payments. A national balance sheet lender provided the loan. The 13-story mixed-use property includes 273 apartments and is located at 1749 Grand Concourse. Moshe Majeski, managing director at Meridian Capital Group, originated the transaction. Abe Hirsch, managing director, and Zev Karpel, senior vice president at Meridian, negotiated the financing