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Meridian Arranges Acquisition Loan for Gowanus Development Site

Meridian Capital Group arranged $20 million in acquisition financing for 450 Union St., a mixed-use residential development site in Brooklyn’s Gowanus neighborhood on behalf of the principals of 2201 Union LLC, Tankhouse and MacArthur Holdings. 

The loan was provided by a balance sheet lender and the transaction was negotiated by Meridian senior managing director Adam Hakim, managing director James Murad and senior associate David Baker,all based in the company’s New York City headquarters. 

The prominent, canal-front site is located on the southeast corner of Bond and Union streets. “Tankhouse and MacArthur Holdings have teamed up to create an all-star team that will together construct one of the premier multifamily buildings in Gowanus,” said Hakim. 

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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 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).

  • ◦Development
  • ◦Financing
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