Northmarq arranges $7M refinancing for industrial warehouse property in Maspeth, NY
MASPETH, N.Y. — Northmarq’s White Plains Debt + Equity team led by Robert Ranieri successfully arranged $7 million in financing for a 53,000-square-foot industrial distribution warehouse located at 56-75 49th St. in Maspeth, New York.
Northmarq arranged financing on behalf of the borrower, Martos Realty LLC, through a relationship with Symetra. The permanent fixed-rate financing is structured on a 10-year term with a self-amortizing schedule.
“I have been active in owner occupied financings in Queens and Brooklyn and this was a good example of matching one of our life companies who was able to offer a 10-year fixed rate self-amortizing deal with a long standing Maspeth based coffee company,” Ranieri said.
Built in 1967, the single-tenant industrial property is strategically positioned in the New York City metro area, providing residents access to one of the nation’s largest logistics and distribution hubs. The property is occupied by Viking SupplyNet, a global distributor of fire protection products and fire sprinkler system components.
The asset’s infill location, established operating history and proximity to key transportation networks support its long-term functionality as a distribution facility serving the region's industrial sector.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
