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

41st Street Apartments
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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.”

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, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit

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