Northmarq’s New York office arranges $6.05M 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.
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