NorthMarq Capital’s Westchester office secures refinance of 20-unit multifamily in New York City
221 East 89th Street
WESTCHESTER (September 5, 2017) – Robert Ranieri, senior vice president/ managing director of NorthMarq Capital’s Greater Westchester NY/CT regional office, negotiated the refinance of a 20-unit multifamily property located at 221 East 89th Street in New York, New York. The transaction was structured with a 10-year term with 5-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower, T - A Realty Corporation, through its relationship with a regional bank. “This was a very low-leverage deal as the owner wanted interest only and prepayment flexibility,” 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.
