Medical Office
Debt & Equity

Northmarq’s New York office arranges $6.05 million refinance of Maimonides Medical Center in Brooklyn, NY

NEW YORK (Nov. 9, 2023) — Northmarq’s New York City Debt + Equity team of Charles Cotsalas, senior vice president, and Robert Delitsky, managing director, have successfully secured a $6.05 million loan for Maimonides Medical Center in Brooklyn. Built in 2015, the single-tenant medical office condominium is located at 3209 Coney Island Avenue and features 15,490 sq. ft. Northmarq secured the permanent-fixed rate loan for the sponsor through a relationship with StanCorp Mortgage Investors. “Despite a few hurdles that came along the way, the lender was able to meet the borrower’s timeline for the existing loan maturity date,” said Cotsalas. “This is the borrower's second condominium transaction with StanCorp Mortgage Investors. It was a pleasure co-brokering this transaction with Jeff Moroch and Scott Singer of Avison Young.” Located just off of Brighton Beach Avenue, Maimonides Medical Center provides patients with advanced medical and surgical expertise in a state-of-the-art facility. The medical office property boasts advanced technology and multidisciplinary services including the Shaknovich Cardiology Wellness Institute, cardiothoracic surgery, general surgery, and more. Learn more about Northmarq’s financing services here.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

Maimonides Medical Center in Brooklyn, NY medical office property
Maimonides Medical Center
Permanent Loan - Fixed
$6,050,000