Lieberman of Meridian negotiates $25m refinance of St. James Building

Meridian Capital Group has arranged $25 million for the refinance of the St. James Building located at 1133 Broadway. This office building consists of 16 stories and 154,660 s/f of rentable space comprised of over 200 office tenants. The property also features ground floor retail space. Allan Lieberman of Meridian negotiated on behalf of the borrower to secure a fixed rate of 5.75% upon application. Meridian was able to close the loan within 25 days. The borrower is a long established real estate family that has owned and operated the property for the past 35 years. The lender did not require escrows for tenant improvements, leasing commissions or replacement reserves. Built in 1896, the property has undergone renovations designed to restore its pre-war eminence.