MERIDIAN ARRANGES $38M LOAN FOR NYC MULTIFAMILY PROPERTY

by admin

NEW YORK CITY — Meridian Capital Group LLC has arranged $38 million in permanent financing for a 117-unit multifamily property in in the Williamsburg neighborhood of Brooklyn on behalf of 53 Hope Street LLC. Located at 55 Hope St., the six-story former warehouse property was redeveloped in 2010 into a high-end multifamily property with 4,300 square feet of retail. Amenities at the building include a fitness center and a roof deck with views of New York City. A life insurance company provided the 10-year loan that features a 4.28 percent fixed interest rate. Aaron Appel, managing director, and Michael Diaz, vice president at Meridian Capital Group, arranged the transaction.

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