New York & Tri-State + Outer + Finance | June 28, 2021

Meridian Arranges $110M Refi on Luxury Brooklyn Rentals

Meridian Capital Group arranged a $110-million loan to refinance Brooklyn Gold, a luxury multifamily property in Downtown Brooklyn.

The 10-year loan, provided by a balance sheet lender, features a rate in the low 3% range. It was negotiated by Meridian’s Charles Grussgott, Abe Hirsch and Michael Helmreich, who are based in the company’s New York City headquarters.

Brooklyn Gold consists of 372 luxury studio, one- and two-bedroom apartments as well as retail across 13 stories. The apartments feature open layouts, hardwood flooring, in-unit washers and dryers, marble bathrooms, and natural light and expansive views through floor-to-ceiling windows.

The property offers proximity to area hotspots including MetroTech Commons, the Brooklyn Academy of Music, Fort Greene Park and shops along Montague Street, as well as universities, schools, and access to an array of subway options and the Long Island Rail Road.

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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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