Office - Debt

NorthMarq Capital secures $3 million refinance for an office property in Staten Island, New York

LONG ISLAND (September 27, 2016) – Charles Cotsalas, senior vice president of NorthMarq Capital’s Long Island-based regional office, and Robert Delitsky, senior vice president/managing director of NorthMarq Capital’s New York City office, collaborated to arrange the $3 million refinance of a 28,000 sq. ft. office property located at 1139 Hylan Boulevard in Staten Island, 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 community bank.

“We secured long-term fixed-rate financing for an asset that the borrower has owned for several decades,” said Cotsalas. “The borrower was extremely pleased given the loan flexibility, and open prepayment throughout the term. This loan was placed with a community bank.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.