Meridian Arranges Financing for NY Assisted Living Property

By Beata Lorincz

New Broadview, Staten Island, N.Y.

Meridian Capital Group has facilitated the acquisition financing for New Broadview, a 200-bed assisted living and nursing facility in Staten Island, N.Y., on behalf of Berry Weiss, managing partner of The W Group. The 24-month bridge loan includes full-term, interest-only payments and a 12-month extension option.

The five-story property is located at 70 Father Capodano Blvd., in the South Beach neighborhood of Staten Island, next to the Verrazano Bridge. Situated in a residential area, the site is one block away from the beach, providing quiet surroundings for residents.

New Broadview’s Assisted Living Program started in 2002 and offers physical therapy, a personal care aide and supervision by licensed nurses. On-site recreational programs include movie nights, weekly shopping outings and board games. The property also features:

• backyard patio
• salon
• security and safety systems
• cable TV access
• religious services
• on-site mental health services
• multi-lingual staff

Meridian’s New York City team negotiating the loan was made up of Managing Directors Ari Dobkin and Ari Adlerstein, along with Vice Presidents Isaac Lifshitz and Josh Simpson.

Earlier this month, Meridian secured a $4 million refinancing loan for another Northeast residential property of 23 units in New Haven, Conn. 

Image via Google Street View