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Meridian Lines Up Inventory Loan for Yorkville Condo Build
Meridian Capital Group has arranged $68 million in financing for the recently-completed Vitre condominium tower on behalf of Wonderworks Construction and its partners. The 21-story project at 302 E. 96th St. in Yorkville is directly across from the extended Q subway line’s new 96th Street station.
The 24-month condo inventory loan is secured by the 48-unit development, and was provided by a balance sheet lender and features full-term interest-only payments. This transaction was negotiated by Meridian senior managing directors Morris Betesh and Tamir Kazaz, and VP Alex Bailkin.
“It was a pleasure working with Wonderworks, a true premier developer in Manhattan,” said Betesh. “Their commitment to quality and excellence is evidenced by this world-class development. We were able to create a competitive bidding process and match Wonderworks with a lender who appreciates their experience and track record.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
