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New York & Tri-State  + Outer  + Finance  | 
210 Clarkson Avenue Brooklyn rendering

Meridian Arranges $69M Construction Financing on Brooklyn Rentals

Meridian Capital Group arranged a total of $68.5 million in construction financing for a mixed-use development in Brooklyn’s Prospect Lefferts Gardens neighborhood. The three-year floating rate loan features interest-only payments. 

The transaction was negotiated by Meridian VPs Eli Finkel and Steve Edelstein and senior managing drector Rael Gervis, all of whom are based in the company’s New York City headquarters. 

At completion this project, located at 210 Clarkson Ave. in Brooklyn, will include 165 rental apartment units across eight stories totaling 165,000 gross square feet with the ground floor allocated for commercial. It’s located two blocks from the Winthrop Street subway station, which is serviced by the 2 and 5 trains. 

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Meridian Capital Group

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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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