Northmarq finalizes $12.3 million refinancing for West Village multifamily property
WHITE PLAINS, N.Y. (Nov. 30, 2023) — Robert Ranieri, senior vice president and managing director of Northmarq’s White Plains-based regional Debt + Equity office, has secured the $12.3 million refinance for a three-story townhouse at 52 Charles St. in New York City. Built in 1899 and currently configured as a two-family townhouse, the property features 3,640 rentable sq. ft. in the West Village neighborhood of Manhattan. Northmarq secured the loan on behalf of the borrower through its relationship with a bridge lender.
“This is a vibrant location in close proximity to Union Square, Washington Square Park and many subway lines and steps away from trendy restaurants, bars and shops,” said Ranieri. “The client has spent the past year obtaining approvals and we sourced a bridge/construction lender who saw the potential value in high end renovated townhouses in the West Village.”
Situated in one of Manhattan’s most desirable locations, the neighborhood features beautiful, landmarked townhomes and quaint streetscapes. Following the completion of a total renovation, the property will be reconfigured as a luxury single-family townhouse featuring five bedrooms, five bathrooms, a private rear yard and rooftop addition while retaining its historic front façade.
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