August 29, 2019
Meridian Capital Group arranged $40 million in acquisition financing and a $5-million earn-out facility for 809-811 Madison Ave., a mixed-use Upper East Side property, on behalf of Churchill Real Estate Holdings. The financing was negotiated by Senior Managing Director Ronnie Levine and Vice President Thomas Wayda.
The five-year loan was provided by a balance sheet lender. It features a fixed-rate and full-term interest-only payments.
“It was a pleasure working with the Churchill team on this financing,” said Levine. “We were able to secure a fixed-rate balance sheet loan that enables them to execute their business plan and maximize the value of the asset.”
Located between East 67th and East 68th streets, 809-811 Madison features 32 apartments and 2,700 square feet of retail space, with frontage along Madison Avenue. It’s within walking distance of the Metropolitan Museum of Art, the Guggenheim Museum, Central Park and the Park Avenue Armory, among other attractions.
Pictured: Ronnie Levine
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