WHITE PLAINS, NEW YORK (February 4, 2020) – Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains-regional office arranged acquisition financing of $900,000 for 189 & 193 Park Avenue, a 3,644 sq. ft. retail property located in East Rutherford, New Jersey. The United States Postal Service represents the property’s major tenant.
“The bank was able to provide 75 percent financing on this freestanding post office. It has been a post office for more than 50 years.”
– Robert Ranieri
– 5-year term
– 25-year amortization schedule
– NorthMarq arranged the permanent-fixed loan for the borrower through its relationship with Columbia Bank.