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New York & Tri-State  + Downtown New York  + Finance  | 

Meridian Arranges Land Loan for Moinian on FiDi Properties

Meridian Capital Group has arranged $40 million to refinance three contiguous, vacant Financial District properties on behalf of the Moinian Group. The 12-month land loan, provided by a balance sheet lender, features two six-month extension options and a prime-based floating rate.

This transaction was negotiated by Meridian senior managing director Drew Anderman and SVP Alan Blank. “This loan was structured with no prepayment penalty, therefore providing maximum flexibility to the borrower as they proceed with their development plans for the site,” said Anderman.

Located at 102-110 John St., the site currently houses three vacant four- and five-story commercial buildings with a total gross square footage of 64,983. The development site itself spans 14,229 square feet, and has more than 250,000 square feet of development rights. Moinian reportedly plans a 37-story tower on the site.

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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 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
  • ◦Development