{"id":1004270192,"date":"2018-10-09T03:24:53","date_gmt":"2018-10-09T11:24:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004270192"},"modified":"2022-12-08T09:51:23","modified_gmt":"2022-12-08T17:51:23","slug":"meridian-capital-secures-40m-refi-in-manhattan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/meridian-capital-secures-40m-refi-in-manhattan\/","title":{"rendered":"Meridian Capital Secures $40M Refi in Manhattan"},"content":{"rendered":"<p>By Holly Dutton<\/p>\n<div id=\"attachment_1004270198\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/110-John-St-e1539083211611.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004270198\" data-attachment-id=\"1004270198\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/meridian-capital-secures-40m-refi-in-manhattan\/110-john-st\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/110-John-St-e1539083211611.png\" data-orig-size=\"931,698\" 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=\"110 John St\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;110 John St.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/110-John-St-e1539083211611.png?w=931\" loading=\"lazy\" class=\"wp-image-1004270198 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/110-John-St-e1539083211611.png\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/110-John-St-e1539083211611.png 931w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/110-John-St-e1539083211611.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/110-John-St-e1539083211611.png?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004270198\" class=\"wp-caption-text\">110 John St.<\/p><\/div>\n<p>Moinian Group has secured $40 million to refinance three vacant commercial properties in the Financial District neighborhood of New York City. Meridian Capital Group arranged the 12-month land loan, provided by a balance sheet lender. The loan features two six-month extension options and a prime-based floating rate.<\/p>\n<p>Meridian Capital Senior Managing Director Drew Anderman and Senior Vice President Alan Blank negotiate the transaction.<\/p>\n<p>Located at 102-110 John St. in Lower Manhattan, the site currently has three vacant four- and five-story commercial buildings with 64,983 total square feet. The development site itself is 14,229 square feet and has more than 250,000 square feet of development rights.<\/p>\n<p><em>\u201cThis loan was structured with no prepayment penalty, therefore providing maximum flexibility to the borrower as they proceed with their development plans for the site,\u201d <\/em>Anderman said&nbsp;in prepared remarks.<\/p>\n<p>The Moinian Group is one of <a href=\"https:\/\/www.commercialsearch.com\/news\/top-10-developers-in-the-northeast-us\/\">the most active office developers<\/a> in the Northeast. Last November, the development firm <a href=\"https:\/\/www.commercialsearch.com\/news\/moinian-launches-2b-manhattan-tower\/\">broke ground on 3 Hudson Yards<\/a>, a $2 billion office tower.<\/p>\n<p><em>Image via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The owner, Moinian Group, is set to redevelop three vacant buildings in the Financial District, on a site with more than 250,000 square feet of development rights.<\/p>\n","protected":false},"author":745,"featured_media":1004270198,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,21752,1600,21742,10],"tags":[37212,33375,33991],"class_list":["post-1004270192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-mixed-use","category-new-york","category-latest","category-northeast","tag-drew-anderman","tag-meridian-capital-group","tag-the-moinian-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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