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

Meridian Arranges Financing for Parking Garage and Retail in Northern Manhattan

Meridian Capital Group arranged $19 million in financing for a multi-use garage and retail space in Northern Manhattan. The loan was provided by TriState Capital and was negotiated by Meridian senior managing director Morris Betesh and VP Omar Ferreira.

The property, located at 4320 Broadway in Manhattan, was constructed in 2004 and is comprised of a parking garage that is 100% leased to two retail tenants: Staples and Radnet Mid Rockland Imaging. The 72,609-square-foot property, with 51,475 square feet given over to its parking garage, also leases exterior signage space to a billboard company with frontage on Broadway.

“We are pleased to have obtained this refinance for our client, a top-tier parking operator and owner in New York City,” said Betesh. “Despite the challenging capital market environment, our lending partner demonstrated the creativity to provide a compelling structure for the borrower.”

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Inside The Story

Meridian Capital's Betesh

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).

  • ◦Financing
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