{"id":1004115784,"date":"2015-03-19T11:10:05","date_gmt":"2015-03-19T19:10:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004115784"},"modified":"2022-12-09T02:50:44","modified_gmt":"2022-12-09T10:50:44","slug":"meridian-arranges-permanent-financing-for-multi-family-property-in-nyc","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/meridian-arranges-permanent-financing-for-multi-family-property-in-nyc\/","title":{"rendered":"Meridian Arranges Permanent Financing for Multi-Family Property in NYC"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<div id=\"attachment_1004115799\" style=\"width: 160px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Israel-Schubert-Meridan-Capital-Group.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004115799\" data-attachment-id=\"1004115799\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/meridian-arranges-permanent-financing-for-multi-family-property-in-nyc\/israel-schubert-meridan-capital-group\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Israel-Schubert-Meridan-Capital-Group.jpg\" data-orig-size=\"448,275\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.4&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;iPhone 5&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1381154223&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;4.12&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.05&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Israel Schubert Meridan Capital Group\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Israel Schubert, Meridan Capital Group&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Israel-Schubert-Meridan-Capital-Group.jpg?w=448\" class=\"size-thumbnail wp-image-1004115799\" alt=\"Israel Schubert, Meridan Capital Group\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Israel-Schubert-Meridan-Capital-Group.jpg\" width=\"150\" height=\"150\" \/><\/a><p id=\"caption-attachment-1004115799\" class=\"wp-caption-text\">Israel Schubert, Meridan Capital Group<\/p><\/div>\n<p>The Moinian Group recently capitalized on the lending community\u2019s fondness for the multi-family sector by orchestrating a $180 million loan for Meridian Capital Group\u2019s refinancing of two mixed-use residential properties at 90 and 110 John St. in New York, N.Y.<\/p>\n<p>\u201cGiven the risk profile of multi-family and the positive overall trends with respect to multi-family rents, lender\u2019s interest in financing of these assets is near or at an all-time high,\u201d Israel Schubert, senior managing director with Meridian, told <i>Commercial Property Executive<\/i>.<\/p>\n<p>Meridian Capital Group secured the financing-a five-year loan&#8211;from a balance sheet lender. In Manhattan, it\u2019s not just the apartment segment of the multi-family sector that gets lenders salivating; condominium assets are coveted as well. The 90 and 100 John Street properties are divided into two mixed-use condominiums, one of which is a 29-story tower featuring 221 luxury condos. The building is made all the more attractive by its 121,000 square feet of office and retail space. And the neighboring four-story condo building presently offers 66,000 square feet of office, retail and parking space and most notably, 150,000 square feet of additional air rights.<\/p>\n<p>\u201cThe borrower plans to utilize the funds to pay off their existing mortgage and construct a new residential tower,\u201d Drew Anderman, senior managing director with Meridian, noted in a press release. \u201cWorking closely with the development team at The Moinian Group and the lender, Meridian was able to structure a loan that allows the borrower to build over the existing four-story low-rise building and capitalize on the value of the air rights.\u201d<\/p>\n<p>Meridian is on a roll. The commercial real estate finance and advisory firm released news of another multi-family financing deal the same day it announced the Moinian transaction. Meridian secured an $80 million loan for PMC Group\u2019s refinancing of its 248-unit luxury apartment property at 1900 Arch St. in Philadelphia. The financing came in the form of an eight-year loan from a regional balance sheet lender<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Moinian Group has capitalized on the lending community\u2019s fondness for the multi-family sector.<\/p>\n","protected":false},"author":969,"featured_media":1004115799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742],"tags":[],"class_list":["post-1004115784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Meridian Arranges Permanent Financing for Multi-Family Property in NYC - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/meridian-arranges-permanent-financing-for-multi-family-property-in-nyc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meridian Arranges Permanent Financing for Multi-Family Property in NYC\" \/>\n<meta property=\"og:description\" content=\"The Moinian Group has capitalized on the lending community\u2019s fondness for the multi-family sector.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/meridian-arranges-permanent-financing-for-multi-family-property-in-nyc\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-03-19T19:10:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:50:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Israel-Schubert-Meridan-Capital-Group.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"448\" \/>\n\t<meta property=\"og:image:height\" content=\"275\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/meridian-arranges-permanent-financing-for-multi-family-property-in-nyc\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/meridian-arranges-permanent-financing-for-multi-family-property-in-nyc\/\",\"name\":\"Meridian Arranges Permanent Financing for Multi-Family Property in NYC - 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