Update: Wharton Secures $125M Loan For 125th Street Property In Harlem

March 24, 2017

Meridian Capital Group arranged $125 million of balance sheet and mezzanine financing for a retail property at 100 West 125th Street in Harlem, NY on behalf of Jeff Sutton/Wharton Properties.

The first mortgage and mezzanine loans, provided by Morgan Stanley and J.P. Morgan, respectively, feature competitive LIBOR-based interest rates, interest-only payments, and up to five years of term.

This transaction was negotiated by Meridian executive vice president Aaron Birnbaum and vice president Tal Savariego.

The property, located on the southwest corner of 125th Street and Lenox Avenue, is a six-story, 200,000 s/f prime retail property in the heart of Harlem. The building with full-block frontage along Lenox Avenue.


An institutional-grade retail property, it has strong national and credit tenants including Whole Foods, Burlington Coat Factory, TD Bank, Olive Garden, American Eagle Outfitters and Raymour & Flanigan.

The property is surrounded by emerging retailers and is situated directly across the street from Marshalls and Marcus Samuelsson’s renowned Red Rooster restaurant.

“Meridian arranged first mortgage and mezzanine financing to repatriate the borrower’s equity and refinance construction financing that Meridian previously arranged for this property,” said Savariego.


By submitting this form, you are consenting to receive marketing emails from: Harlem World Magazine, 2521 1/2 west 42nd street, Los Angeles, CA, 90008, https://www.harlemworldmagazine.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

“The new balance sheet financing provides interest-only payments at a favorable rate and gives the borrower flexibility to continue its operation of the asset.”

Via Youtube.com

We're your source for local coverage, we count on your support. SUPPORT US!
Your support is crucial in maintaining a healthy democracy and quality journalism. With your contribution, we can continue to provide engaging news and free access to all.
accepted credit cards

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles