June 25, 2014

Arranges $2.85 million refinance of 41st Street Apartments in Astoria, New York

41st Street Apartments

Debt & Equity

Multi-Tenant

NEW YORK (June 23, 2014) – Charles Cotsalas, senior director of NorthMarq Capital’s New York metro based office secured the $2.85 million refinance of the 41st Street Apartments, a 17-unit set of property located at 34-38 41st Street in Astoria, New York. The transaction was s structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower, StanCorp Mortgage Investors, LLC through its correspondent relationship with a life company. “StanCorp was able to get their hands around a few mishaps during the Great Recession unlike many other lenders,” noted Cotsalas. “This is an extremely well located property, borrower constructed in the heat of Astoria, Queens.”

Available Multifamily properties

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.