Mixed Use
Debt & Equity

Robert Ranieri negotiates financing of $1 million for mixed-use property in New York, New York

WHITE PLAINS, NEW YORK (July 24, 2019) – Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains regional office, arranged the $1 million line of credit for a mixed-use property on Manhattan’s Upper East Side. Located at 301 East 84th Street in New York, New York, the 12,636 sq. ft. property contains 25 apartment units and one ground floor commercial space. The transaction was structured with a 3-year interest-only term. NorthMarq arranged financing for the borrower through its relationship with the lender, PCSB Bank. 

“The borrower was looking for a short-term line of credit for pre-development costs for current projects,” explained Ranieri. “The bank was happy to assist with the goal of future deals with the client.”

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.

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Mixed-Use Property
Debt
$1,000,000