Meridian Capital Group Secures $17.8M Refinance Loan For Broadway Terrace Upper Manhattan Portfolio

The Broadway Terrace Upper Manhattan Portfolio, located in Upper Manhattan, has undergone a recent loan transaction. The property is a multifamily asset consisting of 131 units.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $17,776,000
• Loan Type: Refinance
• Loan Terms: 5.38%, 5-year term, Partial IO, then 30 Amort, Yield Maintenance
• Brokers: Judah Hammer & Daniel Neiss - Meridian Capital Group

Judah Hammer and Daniel Neiss from Meridian Capital Group represented the parties involved in this loan transaction. The loan is for a total amount of $17,776,000 and has a 5.38% interest rate. The loan terms consist of a 5-year term with partial interest-only payments, followed by a 30-year amortization schedule. The loan also includes a yield maintenance provision.