New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Meridian Arranges Equity Stake in Dynamic Star’s Bronx Development
Meridian Capital Group arranged an equity investment for a large-scale development in the Bronx on behalf of Dynamic Star. The investment was made by Namdar Realty Group and Gorjian Acquisitions and was negotiated by Meridian associate Shlomo Weissberg, based in the company’s New York City headquarters.
Located at 2401 Exterior St. in the Bronx, the 14-acre undeveloped waterfront property features one half-mile of waterfront frontage and is situated adjacent to the University Heights section of the Bronx. Current plans for this development site include building 1,800 multifamily rental units with 30% affordable, office space, retail space, conference center, community spaces, and acres of open space, esplanades, playing fields and waterside uses.
“The partnership between Dynamic Star, and Namdar Realty Group and Gorjian Acquisitions, has proven effective given that all parties shared the same vision on how to develop the Bronx waterfront property,” said Weissberg.
- ◦Development
- ◦Financing
