NEW YORK CITY-Meridian Capital Group has arranged a $250 million mortgage for the refinancing of the Aire, a multifamily property on west 67th street, on behalf of 150 Amsterdam Avenue Holdings LLC.
The 10-year CMBS loan features a competitive fixed-rate of 5.00% and was provided by a national conduit lender. The transaction was negotiated by Meridian's Aaron Appel, managing director; EVP Jeffrey Weinberg and VP Michael Diaz. Meanwhile, 150 Amsterdam Ave. Holdings was represented by the law firm of Kasowitz, Benson, Torres & Friedman.
The Aire, located at 200 W. 67th Street on the Upper West Side, is a 43-story, 310-unit multifamily property featuring a private courtyard, an indoor children's playroom and outdoor play area, an event deck, fitness center, conference room, on-site parking and a private park.
“The Aire is a true trophy asset situated in the heart of the Upper West Side,” says Appel. “This financing enables the client to focus on maintaining the quality of the property while protecting the asset from long term interest rate risk.
“Meridian leveraged its active relationship with the lender to provide financing that gives the asset long-term cash flow stability,” he continues, “and allows the client to execute its business plan.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
