NorthMarq Capital’s Westchester office arranges $2.5 million refinance of mixed-use property in New York City
1707 Second Avenue
GREATER WESTCHESTER NY/CT (October 6, 2015) – Robert W. Ranieri, senior vice president/managing director of NorthMarq Capital’s Greater Westchester NY/CT based regional office secured the $2.5 million refinance of 1707 Second Avenue, a 18-unit mixed-use property located in New York, New York. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower, H – O Realty Corporation, through its relationship with a regional bank. “The bank offered a very competitive rate for this low-leveraged transaction,” noted Ranieri.
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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.
