Multifamily - Debt

NorthMarq Capital’s Westchester office secures refinance of 20-unit multifamily in New York City

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.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.