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New York & Tri-State  + Uptown/Bronx  + Finance  | 

Meridian Arranges $43M Loan on Apartment Portfolio

Meridian Capital Group arranged $43.3 million in financing for a five-building multifamily portfolio located throughout Northern Manhattan and the Bronx. The 10-year Fannie Mae loan from Capital One Multifamily Finance features a rate of 2.86% and full-term interest-only payments.

The transaction was negotiated by Merdian’s Allan Lieberman and Asher Haft. The borrower is a New York City-based family specializing in repositioning and increasing value in their properties through hands-on management and leasing.

Located in the Washington Heights neighborhood of Manhattan and various areas in the Bronx, including Fordham Heights, Mott Haven, Wakefield and Castle Hill, the five-property portfolio totals 211 units.

“The most challenging part of this transaction was coordinating the various moving pieces with all associated individuals working remotely, but we were able to Streamline Rate Lock the loan on March 5 and close by the end of the quarter to facilitate payoffs to three different lenders,” said Lieberman.

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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 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).