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.