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Meridian Arranges $69M Construction Financing on Brooklyn Rentals
Meridian Capital Group arranged a total of $68.5 million in construction financing for a mixed-use development in Brooklyn’s Prospect Lefferts Gardens neighborhood. The three-year floating rate loan features interest-only payments.
The transaction was negotiated by Meridian VPs Eli Finkel and Steve Edelstein and senior managing drector Rael Gervis, all of whom are based in the company’s New York City headquarters.
At completion this project, located at 210 Clarkson Ave. in Brooklyn, will include 165 rental apartment units across eight stories totaling 165,000 gross square feet with the ground floor allocated for commercial. It’s located two blocks from the Winthrop Street subway station, which is serviced by the 2 and 5 trains.
- ◦Financing

