NorthMarq Capital’s Long Island office negotiates the $7 million refinance of warehouse property in Corona, New York

Fodera Enterprises
Debt & Equity
Multi-Tenant
Industrial
Debt
OLYMPUS DIGITAL CAMERA
LONG ISLAND (November 24, 2015) – Charles Cotsalas, senior vice president/senior director of NorthMarq Capital’s Long Island based office arranged the $7 million refinance of Fodera Enterprises, a 79,730 sq. ft. warehouse property located at 129-02 Northern Boulevard in Corona, New York. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank. “This was an owner occupied property with significant cash-out,” said Cotsalas. “The rate was aggressive with much loan flexibility including prepayment. The lender was able to work its way through the “E” zoning classification mandated by New York City.”
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