{"id":1004170434,"date":"2017-03-27T06:35:17","date_gmt":"2017-03-27T14:35:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004170434"},"modified":"2022-12-06T09:23:51","modified_gmt":"2022-12-06T17:23:51","slug":"meridian-arranges-150m-refi-for-manhattan-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/meridian-arranges-150m-refi-for-manhattan-asset\/","title":{"rendered":"Meridian Arranges $150M Refi for Manhattan Asset"},"content":{"rendered":"<p><em>By Bogdan Odagescu, Associate Editor<\/em><\/p>\n<div id=\"attachment_1004170435\" style=\"width: 238px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1-W.-34th-St.-in-Manhattan-New-York.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004170435\" data-attachment-id=\"1004170435\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/meridian-arranges-150m-refi-for-manhattan-asset\/1-w-34th-st-in-manhattan-new-york\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1-W.-34th-St.-in-Manhattan-New-York.jpg\" data-orig-size=\"467,615\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1 W. 34th St. in Manhattan, New York\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1 W. 34th St. in Manhattan, New York&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1-W.-34th-St.-in-Manhattan-New-York.jpg?w=467\" class=\"wp-image-1004170435 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1-W.-34th-St.-in-Manhattan-New-York.jpg\" alt=\"1 W. 34th St. in Manhattan, New York\" width=\"228\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1-W.-34th-St.-in-Manhattan-New-York.jpg 467w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1-W.-34th-St.-in-Manhattan-New-York.jpg?resize=228,300 228w\" sizes=\"auto, (max-width: 228px) 100vw, 228px\" \/><\/a><p id=\"caption-attachment-1004170435\" class=\"wp-caption-text\">1 W. 34th St.<\/p><\/div>\n<p><strong>New York<\/strong>\u2014Meridian Capital Group arranged the $150 million refinancing of 1 W. 34<sup>th<\/sup> St., a 12-story retail and office property in Midtown Manhattan.<\/p>\n<p>Wells Fargo and Goldman Sachs provided the 10-year CMBS financing, which features full-term, interest-only payments and has a 4.31 percent fixed rate. Carol Shelby, managing director with Meridian\u2019s New York headquarters, worked on behalf of BLDG Management and Crown Acquisitions.<\/p>\n<p>\u201cThe existing loan was entering its amortization period and given the property\u2019s prime location and strong 96-percent occupancy, Meridian was able to negotiate a new 10-year, interest-only loan,\u201d said Shelby in prepared remarks.<\/p>\n<p>Built in 1906, the 212,000-square-foot property is located across the street from the Empire State Building. The asset encompasses 88 office and three retail spaces, also offering 250 feet of prime frontage along 34<sup>th<\/sup> Street, between Fifth and Sixth avenues. Situated midway between Penn Station and Grand Central Station, 1 W. 34<sup>th<\/sup> St., is also within walking distance of both Madison Square Park and Bryant Park, offering street exposure and several public transportation options.<\/p>\n<p><em>Image courtesy of Meridian Capital Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 212,000-square-foot retail and office property is located across from the Empire State Building.<\/p>\n","protected":false},"author":740,"featured_media":1004170435,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21752,1600,21742,10,21747,21749],"tags":[33435,33375,33215],"class_list":["post-1004170434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-mixed-use","category-new-york","category-latest","category-northeast","category-office","category-retail","tag-goldman-sachs","tag-meridian-capital-group","tag-wells-fargo-bank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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