Meridian Arranges $150M Refi for Manhattan Asset
ByThe 212,000-square-foot retail and office property is located across from the Empire State Building.
New York—Meridian Capital Group arranged the $150 million refinancing of 1 W. 34th St., a 12-story retail and office property in Midtown Manhattan.
Wells Fargo and Goldman Sachs provided the 10-year CMBS financing, which features full-term, interest-only payments and has a 4.31 percent fixed rate. Carol Shelby, managing director with Meridian’s New York headquarters, worked on behalf of BLDG Management and Crown Acquisitions.
“The existing loan was entering its amortization period and given the property’s prime location and strong 96-percent occupancy, Meridian was able to negotiate a new 10-year, interest-only loan,” said Shelby in prepared remarks…
Meridian Arranges $150M Refi for Manhattan Asset
