New York & Tri-State + Midtown New York + Finance | April 7, 2023

Cushman & Wakefield, Meridian Capital Arrange $77M Financing for Upper Floors of Mercedes House

Cushman & Wakefield and Meridian Capital served as the exclusive advisors to Empire Capital Holdings and Namdar Realty Group in procuring $77,380,000 in acquisition financing for The Collection at Mercedes House, a 162-unit multifamily collection located on floors 22 through 32 of 540 W. 54th St. in Midtown Manhattan. The loan was provided by Deutsche Bank Wealth Management.

A Cushman & Wakefield Equity, Debt & Structured Finance team of Gideon Gil, Lauren Kaufman and Dale Braverman, along with Meridian Capital’s Rael Gervis and Elliott Kunstlinger, represented the borrowers.

“The Collection at Mercedes House features access to the state-of-the-art Mercedes Club and its extensive amenities, along with breathtaking views of the Hudson River and the New York City skyline,” said Gil. “Despite the challenging market, we have seen a sustained demand for high-quality residential properties in New York City and this transaction is a testament to the resiliency of the Manhattan luxury multifamily market.”

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Cushman & Wakefield's GilMeridian Capital's Gervis

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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