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

Mixed-Use Property
Debt & Equity
Multi-Tenant
Mixed Use
Debt
Bank
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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.”

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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 $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
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