{"id":1004117947,"date":"2015-04-22T05:09:13","date_gmt":"2015-04-22T13:09:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004117947"},"modified":"2022-12-07T23:21:12","modified_gmt":"2022-12-08T07:21:12","slug":"meridian-helps-rxr-buy-downtown-nyc-office-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/meridian-helps-rxr-buy-downtown-nyc-office-property\/","title":{"rendered":"Meridian Helps RXR Buy Downtown NYC Office Property"},"content":{"rendered":"<p><i>By Keith Loria, Contributing Editor<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/32-Old-Slip-2.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004117948\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/meridian-helps-rxr-buy-downtown-nyc-office-property\/32-old-slip-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/32-Old-Slip-2.jpg\" data-orig-size=\"496,1024\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;4.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;KODAK EASYSHARE C433 ZOOM DIGITAL CAMERA&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1283414674&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;6&quot;,&quot;iso&quot;:&quot;80&quot;,&quot;shutter_speed&quot;:&quot;0.0013333333333333&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"32 Old Slip 2\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/32-Old-Slip-2.jpg?w=496\" class=\"alignright size-medium wp-image-1004117948\" alt=\"32 Old Slip 2\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/32-Old-Slip-2.jpg\" width=\"145\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/32-Old-Slip-2.jpg 496w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/32-Old-Slip-2.jpg?resize=145,300 145w\" sizes=\"auto, (max-width: 145px) 100vw, 145px\" \/><\/a><\/i><\/p>\n<p>Meridian Capital Group negotiated $325 million in acquisition financing for the purchase of the leasehold interest in 32 Old Slip, a 36-story office property located in New York City, on behalf of RXR Realty L.L.C., which purchased the building from Beacon Capital Partners\u00a0for $675 million.<\/p>\n<p>\u201cThe property is well located along the east side of Downtown Manhattan across the street from the Pier 11 ferry terminal and has unobstructed views of the East River, Brooklyn Waterfront and New York Harbor,\u201d Jonathan Stern, Meridian\u2019s managing director, told <i>Commercial Property Executive<\/i>.<\/p>\n<p>Tenants of the building enjoy unobstructed views of the East River, Downtown Brooklyn and New York harbor.<\/p>\n<p>Originally constructed in 1987, the 1,161,400-square-foot building is located between Front Street and South Street on the Manhattan waterfront, directly across from the Pier 11 ferry terminal. The property is close by the 1, 2, 3, 4, 5, N, R, J and Z subway lines as well as the Staten Island Ferry. In addition, lower Manhattan continues to benefit from the significant development and redevelopment projects at the South Street Seaport, World Trade Center, Brookfield Place and Battery Maritime Hotel.<\/p>\n<p>\u201cDowntown Manhattan, historically home to financial-services, insurance and real estate companies, has begun to experience a shift in its tenant base to companies engaged in creative industries such as technology and media,\u201d Stern added. \u201cDowntown Manhattan\u2019s superior transportation network provides direct access to all NYC boroughs and Northern New Jersey.\u201d<\/p>\n<p>The five-year loan was provided by GE Capital and features a competitive fixed-rate below 3 percent and interest-only payments for the full term.<\/p>\n<p>Last year, Meridian closed 3,480 loans totaling more than $30 billion in transaction volume with 175 unique lenders, equating to $120 million per business day.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Meridian Capital Group negotiated a big chunk of change in acquisition financing for the purchase of the leasehold interest in a Manhattan office property.<\/p>\n","protected":false},"author":451,"featured_media":1004117948,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,11,21742,10,21747],"tags":[],"class_list":["post-1004117947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-midatlantic","category-latest","category-northeast","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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