Multifamily
Debt & Equity

NorthMarq Capital’s Westchester office secures refinance of 20-unit multifamily in New York City

WESTCHESTER (September 5, 2017) – Robert Ranieri, senior vice president/ managing director of NorthMarq Capital’s Greater Westchester NY/CT regional office, negotiated the refinance of a 20-unit multifamily property located at 221 East 89th Street in New York, New York. The transaction was structured with a 10-year term with 5-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower, T - A Realty Corporation, through its relationship with a regional bank. “This was a very low-leverage deal as the owner wanted interest only and prepayment flexibility,” noted Ranieri.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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221 East 89th Street
Permanent Loan - Fixed