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Posted: November 2, 2021
Cotsalas and Delitsky of NorthMarq completes $17.5 million refinance of Eltingville Shopping Center
Staten Island, NY According to NorthMarq, Charles Cotsalas, senior vice president/senior director and Robert Delitsky, senior vice president/managing director collaborated together to secure the $17.5 million refinance of Eltingville Shopping Center.
The 98,523 s/f mixed-use property is located in the Eltingville neighborhood. The property is anchored by Rite Aid Drug Store, Advance Auto, and Santander Bank.
NorthMarq secured the permanent-fixed rate loan for the long term customer, a multi-generational owner through one of its CMBS relationships.
“The sponsor developed the property in the 1970’s and 1980’s and have done a fabulous job maintaining very strong occupancy. The structure of the 10-year interest only loan met all of the borrower’s needs,” said Cotsalas.
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