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.
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.
