NorthMarq Capital's Westchester office secures $1.5 million refinance for New York City mixed-use building
WESTCHESTER (September 26, 2016) – Robert W. Ranieri, senior vice president/managing director of NorthMarq Capital’s Greater Westchester New York/Connecticut-based regional office, arranged a $1.5 million refinance for a 15-residential unit/1-retail unit mixed-use property located at 340 East 86th Street in New York, New York. The transaction was structured with a 10-year term with 5-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank. “This was a low leveraged transaction where the borrower wanted interest only,” said Ranieri. “The property enjoys an excellent location on the Upper East Side.”
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.
