Multifamily - Debt

NorthMarq secures $1.575 million refinance of multifamily portfolio in Queens, New York

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. 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.