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.”