Meridian Capital Group Arranges $40M Mezzanine Construction Loan For Platt Street Property

The property at 7 Platt Street, located in the Financial District of Manhattan, is a mixed-use asset comprising a hotel and multifamily residences. The property spans approximately 270,000 square feet, featuring 250 multifamily units and 172 hotel keys. The lender for this transaction was Lionheart Strategic Management, while the landlord is the Moinian Group. The deal was facilitated by Drew Anderman & Eddie Haber of Meridian Capital Group.

Summary of transaction details:

• Property Type: Hotel & Multifamily
• Transaction Amount: $40,000,000
• Market: Financial District, Manhattan
• Multifamily Units: 250
• Hotel Keys: 172
• Loan Type: Mezzanine Construction
• Loan Amount: $40,000,000

The property at 7 Platt Street is one of the last 421-A eligible properties to be developed in NYC, making it a unique investment opportunity. Meridian Capital Group had previously arranged a $165 million senior construction loan for this property from BDT & MSD Partners, highlighting the financial strategy employed in this high-value transaction.