Mixed Use - Debt

NorthMarq Capital

NorthMarq Capital’s Long Island office secures $47 million refinance of New York City mixed-use property

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.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.