REBusinessOnline

MERIDIAN SECURES $65 MILLION FOR MULTIFAMILY REFINANCE

NEW YORK CITY — Meridian Capital Group has secured a $65 million first mortgage for the refinancing of Knickerbocker Plaza, a 578-unit multifamily property located at Second Avenue and East 90th Street in New York City. Developed in 1975 by The DeMatteis Organization, the property is in the process of opting out of the Mitchell-Lama Housing Program. Knickerbocker Plaza also includes retail, office and parking space, including a bank and a pharmacy. Abe Hirsch and Zev Karpel of Meridian’s New York office secured the loan, which include a 5-year term, with a local lender.

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