New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Meridian Lines Up Construction Debt on Harlem Condo Build
Meridian Capital Group recently arranged $50 million in construction financing on 145 Central Park North, a condominium building in Harlem. The senior and mezzanine debt from a balance sheet and mezz lender was negotiated by Meridian’s Morris Betesh, Michael Homapour and Daniel Belecen.
“Today condominium construction financing is reserved for the best projects with the strongest sponsors,” said Betesh. “This property’s unique location overlooking Central Park, with views that will never be blocked, set this development apart and allowed Meridian to arrange competitive financing for a premier developer.”
Grid Group, a boutique New York development company, is responsible for the project. The 13-story development will stand 135 feet tall and consist of 37 floor-through apartments with unobstructed views of Central Park.
The area of South Harlem and Central Park North has seen several condo developments over the past few years, including the Circa Central Park and 111 Central Park North.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Development
