WHITE PLAINS, NEW YORK (March 26, 2021) – Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains office secured the $1,575,000 refinancing of a Queens Multifamily Portfolio. The multifamily properties contain 12 units and are located at 41-28 52nd Street and 52-15 Skillman Avenue, Queens, New York. Situated in the Woodside section of Queens, each property features six 2-bedroom apartments. The neighborhood is home to many cultural restaurants and pubs, and benefits from good access to transportation and jobs in Manhattan.
The transactions were structured with 10-year terms on 25-year amortization schedules. NorthMarq arranged the permanent-fixed rate loans for the borrower through its relationship with a local bank.
“The client was looking to refinance maturing bank loans and we were able to get him cash out financing on very favorable terms with a Queens-based bank,” said Ranieri.