Multifamily

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 Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, with a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes approximately $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion. For more information please visit www.northmarq.com.