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.
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.
