Northmarq arranges $2.4M refinance for Upper East Side retail and residential property
1707 2nd Ave
NEW YORK — Robert Ranieri of Northmarq’s Greater Westchester, New York office secured $2.4 million in financing for 1707 2nd Avenue, a 16-unit, five-story apartment building in Manhattan. Located in the Upper East Side’s Yorkville neighborhood, the property features two ground floor retail units totaling 7,525 square feet.
Northmarq arranged the external refinance on behalf of the borrower through Chase Bank. The transaction was structured on a five-year term.
“This is the fifth loan with this client and this bank,” said Ranieri. “They offer a low cost, ease of transaction process that our client is accustomed to.”
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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.
