Office - Debt

NorthMarq arranges $622,000 refinancing of single-tenant office property in Little Ferry, New Jersey

WHITE PLAINS, NEW YORK (October 1, 2021) – Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains office, secured the $622,000 refinancing of a 3,200 sq. ft. single tenant office property located at 281 Liberty Street in Little Ferry, New Jersey. Constructed by the owner in the early 1970’s, the property is a 2-story newly renovated office building which will be leased to the owner’s parent company for their property management and development operations.

The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq negotiated the permanent-fixed loan for the borrower through its relationship with a regional bank.

“The borrower is an existing bank customer doing a total renovation of his office building and bank was glad to continue the growing relationship with them,” said Ranieri. 

Northmarq is an industry-leading capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with an open, flexible structure, enabling our team of seasoned professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of over $30 billion, and loan servicing of nearly $70 billion.