Meridian Capital Group has successfully arranged $33.1 million in financing for the construction of a mixed-use condominium property located in Brooklyn’s desirable Park Slope neighborhood. The financing was secured from a reputable balance sheet lender and facilitated by Meridian’s experienced team, including Morris Betesh, Eli Serebrowski, and Alex Bailkin.
This six-story development will consist of 29 modern condo units as well as one townhome. According to Betesh, despite recent tightening in the construction lending market, they were able to secure low-cost funding from a community bank for this project which also includes ground-floor retail space and the conversion of a historic building into an exclusive single-family townhome. He further notes that demand for condos in Park Slope remains strong even amidst current high interest rates.
The article “BK Mixed-Use Condo Lands $33M” originally appeared on Connect CRE.
