New York & Tri-State + Downtown New York + Finance | November 12, 2021

Meridian Arranges Acquisition Loan for Retail Condo

Meridian Capital Group arranged $9.5 million in acquisition financing for the purchase of a retail condominium, located at 119 Second Ave. between Cooper Square and the East Village, on behalf of Premier Equities. The 6,400-square-foot condo is tenanted by Bank of America.

The 15-year loan, provided by a balance sheet lender, features a rate of 3.43% and amortizes on a 25-year schedule. This transaction was negotiated by Meridian senior managing director Cary Pollack and VP Judah Neuman, who are both based in the company’s New York City headquarters.

“We are pleased to have negotiated long-term, fixed-rate acquisition financing for Premier Equities that reflects the high-quality tenancy they put in place while they had the deal under contract,” said Pollack.

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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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