NorthMarq Capital secures $3 million refinance for an office property in Staten Island, New York
1139 Hylan Boulevard
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.”
Meet our team
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
