Meridian Capital Group Arranges $67.75M Loan For Queens Development Site

Adam Hakim, James Murad, and David Baker of Meridian Capital Group recently facilitated a loan transaction for a development site in Queens. The property, located at 45-20 83rd Street, consists of a 67,286 square foot educational facility building and a 142,000 square foot residential building with a total ZFA. The loan, which was finalized on August 30, 2022, amounted to $67,750,000 and included both a first mortgage and preferred equity.

Summary of Transaction Details

• Property Type: Development Site (67,286 SF Educational Facility Building + 142k ZFA Residential Building)
• Transaction Amount: $67,750,000
• Address: 45-20 83rd Street, Queens
• Market: Queens

The loan transaction was arranged by Adam Hakim, James Murad, and David Baker from Meridian Capital Group. Their expertise in the industry played a crucial role in securing this financing deal for the development site. The involvement of Meridian Capital Group demonstrates their commitment to providing exceptional financial services in the real estate sector.