711 Seagirt Ave.
NEW YORK CITY – Berkadia, a commercial real estate banking and sales firm, has secured $121 million Freddie Mac loan for 711 Seagirt Ave., a 917-unit high rise multifamily property in Rockaway, Queens. Meridian Capital Group arranged the transaction.
Property financing through Freddie Mac includes a 10-year term with five years for interest-only for the $120.78 million senior loan. Meridian also secured $25 million in preferred equity through entities affiliated with Pennybacker Capital.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
