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Meridian Arranges Acquisition Loan on Upper West Side Mixed-Use
Meridian Capital Group arranged $35 million in acquisition financing for 2875 Broadway, a mixed-use commercial property on Manhattan’s Upper West Side.
The loan from a national bridge lender features a LIBOR-based floating rate and full-term interest-only payments. It was negotiated by Meridian senior managing director Cary Pollack and VP Judah Neuman, both based in the company’s New York City headquarters.
This mixed-use, office and retail property is located at the corner of West 112th Street and consists of 31,771 square feet across three stories. The square footage includes 7,539 square feet of retail space on the ground floor, 16,052 square feet of office space on the second and third floors, and 7,680 square feet of basement storage space.
“We are excited to have worked with the lender to provide our client with acquisition financing that will enable them to achieve their business plan for this well-located property,” said Pollack.
- ◦Financing
