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<div style="display: flex; flex-direction: column; margin-top: 0.15rem; width: 200px; height: fit-content; align-items: left;
 justify-content: center; font-family: Inter,sans-serif; ">
 <img src="https://cf.reverecre.com/cdn-cgi/image/w=200,h=undefined,fit=scale-down/https://storage.googleapis.com/revere-user-uploads/project%2Fbbe7883b-32dc-4fd7-ad5e-a2d01d0cdc99%2Fb006df3d-9bab-4ea5-965e-a2e369d922ba" onerror="this.style.display='none'" alt="949 2nd Avenue Image" style="object-fit: cover; width: 200px;" />
 Mixed Use / Multifamily / Retail 
 
 949 2nd Avenue
 
 New York, NY 
 By Meridian Capital Group

 <a href="/user/611b6d87-be21-4577-a987-6b6eac21dae0" style="margin-top: 0.5rem; font-size: 10px; text-decoration: underline;">David Schechtman</a>
 
 Senior Executive Managing Director
 
 
 <a href="tel:212-468-5907" style="margin-top: 0.25rem; font-size: 10px; text-decoration: underline;">212-468-5907</a>
 

 <a href="https://platform.reverecre.com/project/bbe7883b-32dc-4fd7-ad5e-a2d01d0cdc99" target="_blank" style="text-decoration: underline; color: #2E74B3; text-align: left; margin-top: 0.5rem">
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 </a>
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Meridian has arranged financing for many of the country’s leading real estate investors and developers. The experts on our in-house underwriting and placement teams tailor creative, best-in-class solutions for our clients’ unique needs.

Clients benefit from our long-standing relationships with more than 250 traditional and non-traditional lenders, including local, regional, and national banks; CMBS lenders; agency lenders; mortgage REITs; life insurance companies; credit unions; private equity funds; and other specialty finance firms.

Service is Meridian’s hallmark, which in tandem with substantial experience across our three divisions has allowed us to achieve the most accretive and creative solutions for our clients in a seamless process that maximizes value at every step. Meridian’s clients also benefit from our unparalleled, real-time market intelligence and our deep relationships with a full array of local, national, and international buyers, enabling us ot target a subset of the most likely buyers of any given property.

Meridian’s investment sales division distinguishes itself with our intimate knowledge of New York City real estate, having a detailed understanding of not only how tenancies and cash flows drive value, but also how zoning, land use, air rights, and alternative uses are integral parts of a property’s economics.

Meridian’s retail leasing team understands the market, knows the active operators, and cultivates targeted opportunities for each asset to achieve favorable results for our clients. Our retail leasing knowledge is further supported by the company’s unparalleled access to information and comparables via the firm’s debt capital markets and investment sales businesses, providing clients with exceptional service and in-depth market insights.

Senior Executive Managing Director

Managing Director

Director

Associate

Sales Team

CLEAR VALUE-ADD THROUGH RESIDENTIAL LEASE-UP

Two free market residential units delivered vacant provide immediate opportunity to renovate, reposition, and capture market rents.

IN-PLACE RETAIL INCOME WITH FUTURE UPSIDE

Retail tenancy in place through 2028 offers stable cash flow, with the ability to re-tenant or mark rents to market upon expiration.

Ownership has completed a series of upgrades to building systems and structural components over time, reducing near-term capital expenditure requirements and providing a stable foundation for a value-add execution.

ADDITIONAL LONG-TERM UPSIDE VIA AIR RIGHTS

Approximately 8,520 SF of unused development rights offer future flexibility for expansion or monetization.

Mr. Schechtman joined Meridian Investment Sales in April 2015 as a Senior Executive Managing Director, overseeing a team of originators, analysts and other professionals. Mr. Schechtman is widely recognized as one of the most active and respected investment sales brokers in New York City, where he executes transactions throughout the City and across all asset classes, with particular emphasis on Note Sales and Bankruptcies, including multifamily, retail, office, industrial as well as land and conversions.

While Mr. Schechtman routinely sells stabilized properties, he is acclaimed for his ability to work through complex transactions and recognize hidden value in various asset classes. A former bankruptcy litigator, he regularly is retained by major institutions to value and market senior, secured first mortgages. Over his career, Mr. Schechtman has completed more than $6.2 billion in real estate sales transactions. In 2015 alone, Mr. Schechtman completed more than 38 transactions totaling over $1 billion in proceeds.

Prior to joining Meridian, he held the position of Principal and Executive Managing Director at Eastern Consolidated, where he was named "Broker of the Year" on multiple occasions. Prior to Eastern, Mr. Schechtman was a practicing attorney at DLA Piper in New York, where he specialized in commercial and property-related bankruptcy and litigation. Mr. Schechtman has been publicly recognized by The Real Deal as a "Titan"; on two occasions as among the "25 Most Visible New York City Real Estate Players Post Credit-Crunch" by The Commercial Observer in its "Power Broker" rankings; by The Real Deal as one of the "25 Most Visible New York City Real Estate Players Post-Credit Crunch"; and by Real Estate Weekly as one of New York City's "Rising Stars."

Mr. Schechtman holds a J.D. from the Benjamin Cardozo School of Law where he graduated Magna Cum Laude and a B.A. from University of Delaware.

Overview

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