Meridian Arranges Acquisition Loan for Gowanus Development Site

Meridian Capital Group arranged $20 million in acquisition financing for 450 Union St., a mixed-use residential development site in Brooklyn’s Gowanus neighborhood on behalf of the principals of 2201 Union LLC, Tankhouse and MacArthur Holdings. 

The loan was provided by a balance sheet lender and the transaction was negotiated by Meridian senior managing director Adam Hakim, managing director James Murad and senior associate David Baker,all based in the company’s New York City headquarters. 

The prominent, canal-front site is located on the southeast corner of Bond and Union streets. “Tankhouse and MacArthur Holdings have teamed up to create an all-star team that will together construct one of the premier multifamily buildings in Gowanus,” said Hakim.