Northmarq’s White Plains office completes $880,000 refinance of office/warehouse property in East Syracuse, New York

WHITE PLAINS, NEW YORK (March 30, 2022) – Robert Ranieri, senior vice president/managing director in Northmarq’s White Plains-based regional office, arranged the $880,000 refinance of a low finish office/warehouse property located at 6660 Joy Road in Dewitt (East Syracuse), New York. The permanent-fixed loan was a 7-year fixed-rate term on a 25-year amortization schedule. Northmarq secured financing for the borrower through its relationship with a credit union. 

"The client was interested in a longer-term loan with flexible prepayment. The credit union was the perfect lender and held the rate during this volatile interest rate market,” said Ranieri. 

The single-story building, constructed circa 1975, is a 30,000 sq. ft. multitenant warehouse comprising 2,300 sq. ft. of office space and 27,700 sq. ft. of warehouse space.  The warehouse space includes 17-foor clear height ceiling and seven overhead doors, of which three are at dock height. The property, 100 percent leased to two tenants, is ideally located just south of Syracuse Hancock International Airport and close to Interstate 90 and State Road 298.