NorthMarq Capital’s Long Island office secures $47 million refinance of New York City mixed-use property
64 West 48th Street
NEW YORK CITY (May 10, 2018) – Charles Cotsalas, senior vice president/senior director of NorthMarq Capital’s Long Island regional office and Bob Delitsky, senior vice president/managing director of NorthMarq Capital’s New York City office, collaborated to secure the $47 million refinance of a 128,251 sq. ft. mixed use property located at 64 West 48th Street in New York, New York. The transaction was structured with a 15-year term with 2-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
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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 $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.
