Pleasantville Lofts, located at 70 Memorial Plaza in Pleasantville, NY, is a Class-A multifamily asset featuring 79 luxury apartment units along with 2 retail spaces. The property encompasses a total of 7,056 square feet of retail area on a 1.08-acre site and includes amenities such as a fitness center, landscaped courtyard, pickleball court, dog park, heated sidewalks, and modern common areas. The residential component is fully leased with 155 parking spaces and 32 storage units available.

Summary of transaction details:

• Property Type: Class-A Multifamily
• Transaction Amount: $46,000,000
• Loan Type: Refinance
• Lender: Corebridge Financial
• Landlord: Jordan Errico
• Brokers: Brian Flax & John Bianco - Meridian Capital Group
• Units: 79 + 2 Retail

Meridian Capital Group conducted a competitive financing process, attracting multiple bids from various financial institutions. The 5-year non-recourse loan from Corebridge Financial replaces a $38 million construction loan previously held with Goldman Sachs, achieved at a favorable interest rate in the low-5% range. The asset's prime location adjacent to the Pleasantville Metro-North station has led to high demand for the apartments and significant foot traffic in the retail space.