Meridian Capital Group has successfully secured $22.8 million in financing for E Residences on Madison, a new development located at 6207 Madison Street in West New York, NJ. The borrower, Echeverria Industries, will benefit from a two-year loan with a floating rate of 3.50% over the 30-day SOFR index and full-term interest-only payments. Negotiated by Paul Gilbert of Meridian Capital Group, this financing arrangement highlights the project’s potential and showcases our expertise in navigating complex financial landscapes.
E Residences on Madison boasts an array of luxurious amenities including residential floor lounges, a rooftop fitness center, and a community center equipped with grills for outdoor gatherings. Additionally, the building offers indoor parking with EV charging stations to cater to residents’ modern needs.
“This successful financing deal is proof of our commitment to sustainable living while prioritizing environmental consciousness,” stated Gilbert confidently amidst challenging lending conditions.”E Residences on Madison is set to enhance residents’ lives through its exceptional offerings.”
