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

Meridian Arranges Construction Financing for Inwood Condos

Meridian Capital Group arranged $9.8 million in financing for a residential condominium building in Northern Manhattan. The construction loan was provided by a regional bank and was negotiated by Meridian’s Reuben Hedaya, based in the company’s New York City headquarters.

The property, located at 140 Hillside Ave. in the Inwood neighborhood, will be constructed into a seven-story building composed of 20 residential units. The two penthouse units will include feature balconies, and planned amenities include recreational space on the building’s rooftop, and bicycle storage accessible to all tenants.

“This deal was met with a multitude of hurdles – namely a tumultuous interest rate environment and unfortunate building materials supply chain deficiencies, but the lender consistently maintained its belief in the project and saw the loan through to closing,” said Hedaya. “Given the developer’s impressive track record and commitment to delivering a premium product to the neighborhood, I have no doubt that this project will be a immense success.”


Inside The Story

Meridian Capital's Hedaya

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).

  • ◦Development
  • ◦Financing
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