Meridian Arranges $21M Refi for NYC Property

The eight-story mixed-use asset features four commercial units and 20 luxury apartments and is in close proximity to the Subway Line 1 at Houston Street.

159-161 Bleecker Street
159-161 Bleecker St.

Meridian Capital Group arranged a $21 million refinancing for a mixed-use property in Greenwich Village. The five-year loan features a 3.6 percent fixed rate. 

Located at 159-161 Bleecker St., the eight-story asset features four commercial units across the ground floor, lower level, mezzanine and second floor. The property offers 30,000 square feet of rentable space and sits on a 5,000-square-foot lot. Floors three through eight feature 20 one- and two-bedroom luxury residential units with outdoor spaces.

The building is in close proximity to Subway Line 1 at Houston Street and the A through F and M lines at West Fourth Street. The location is also walking distance from local restaurants, boutique shops, art galleries and tourist attractions. Recently, NKF has also arranged refinancing for three Greenwich Village mixed-use properties located near this asset.

The Deal and future strategy

The transaction was negotiated by Vice President Judah Hammer and Associate Daniel Neiss, who are both based in the company’s New York City headquarters.

“Meridian Capital Group’s investment sales division is currently marketing the property for sale, and was able to provide additional insight, which was helpful to my team,” said Hammer, in prepared remarks. “Given the building’s retail and apartment features, Meridian made a market for this financing opportunity and negotiated favorable terms within 35-day time frame.”

Image courtesy of Meridian