Northmarq’s Debt + Equity team arranges $15M refinance of Atlantic Plaza Shopping Center in Queens, NY
Image credit: Schuckman Realty Inc.
NEW YORK — Northmarq’s New York Metro Debt + Equity team led by Robert Delitsky and Keith Braddish successfully arranged the $15 million refinance of Atlantic Plaza Shopping Center, amid continued lender appetite for necessity-based retail in the outer boroughs. The 34,949-square-foot, multi-tenant anchored center is located at 102-20 Atlantic Avenue in the Ozone Park section of Queens, New York.
Northmarq arranged the financing on behalf of the owner, Schuckman Realty Inc., through a relationship with a commercial bank.
“We are thrilled to have arranged this financing for our long-time client on this premier retail center,” Delitsky said. “This transaction reflects the continued strength of well-located retail properties in the boroughs and Northmarq’s ability to deliver financing solutions to meet our clients’ objectives.”
"Atlantic Plaza has been a family asset for decades, and this refinancing positions it for the next chapter," said Ken Schuckman, president of Schuckman Realty Inc. "Grocery-anchored retail in the boroughs is as strong as we've ever seen it — well-located neighborhood centers with daily-needs tenants are outperforming the market, and lenders know it."
Built in 1984, Atlantic Plaza Shopping Center is leased to daily-needs tenants including Bravo Supermarkets, Lenox Hill Radiology, Four Leaf Federal Credit Union and Dunkin'.
Meet our team
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 fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
