Meridian Capital Group has secured a $20 million refinance for an office building in NoHo on behalf of Albert Malakan. The 5-year non-recourse CMBS loan, featuring full-term interest-only payments, was negotiated by Jacob Schmuckler and Meir Schlusselberg. Citi Bank provided the loan, led by Eric Mirvis. 

The property, located at 419 Lafayette Street, is a historic 8-story office building with a penthouse, built in 1894. It encompasses 75,600 square feet, including ground-floor retail space. 

“As lenders have become more conservative and cautious in the office sector, there seems to be a trend where capital is still available for experienced borrowers with real track records. This building is in pristine condition and a testament to the strength and commitment of the sponsor to this property and the value it brings to the entire NoHo area,” said Schmuckler.