Northmarq secures $1.8M refinancing for New York industrial building
Northmarq’s White Plains Debt + Equity team led by Robert Ranieri successfully arranged $1.8 million in financing for a 13,442-square-foot industrial property located at 215 -10 Hempstead Avenue in Queens Village, New York.
Northmarq arranged the financing on behalf of the borrower, 215-10 Hempstead Avenue LLC, through Symetra. The permanent fixed-rate financing is structured on a 10-year term.
“The client was looking for a longer-term deal than his bank was willing to offer. Our borrower operated his concrete company from this location and wanted a long-term debt option along with a substantial cashout,” Ranieri said.
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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 $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
