Northmarq’s Debt + Equity team secures $9.5M refinancing for Staten Island, NY office building
60 Bay Street
Northmarq’s New York Metro Debt + Equity team led by Charles Cotsalas and Robert Delitsky secured the $9.5 million cash-out refinance of 60 Bay Street, an office building located in Staten Island, New York for a term of 10 years.
Northmarq arranged permanent-fixed rate financing on behalf of the borrower through a correspondent life insurance company relationship. This is the sixth transaction with a correspondent life insurance company that Northmarq and the borrower closed together.
Built in 1969, and recently renovated, 60 Bay Street is a 115,000 square-foot office building that is 95% leased.
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About Northmarq
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 $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
