Meridian Capital Group Arranges $9.9M Cash-Out Refinancing Loan For Multifamily Property On East 75th Street

Located in Lenox Hill, the property at 436-438 East 75th Street recently underwent a closed transaction involving a cash-out refinancing loan. The loan amount of $9,945,000 was obtained for this multifamily asset. The loan terms include a 7-year duration with a 4.31% rate and a 30-year amortization period.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,945,000
• Address: 436-438 East 75th Street
• Market: Lenox Hill

Represented by Asher Haft, Allan Lieberman, and Jacob Kaufman from Meridian Capital Group, the deal involved two contiguous 6-story walk-up apartment buildings. These buildings, constructed in 1910, comprise a total of 48 apartments and 2 retail spaces. The transaction also included a 150-day forward rate lock to target a reduced prepayment penalty window on the existing note.