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

Multifamily Portfolio
Debt & Equity
Multi-Tenant
Multifamily
Permanent Loan - Fixed
Bank
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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. 

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About Northmarq 
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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