News:
Brokerage
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.
Tags:
Brokerage
MORE FROM Brokerage
Liberow and Benshar of Asset CRG Advisors arrange $18.1 million ground lease transaction for 358 Flatbush Ave. development site
Brooklyn, NY Asset CRG Advisors recently facilitated the disposition of 358 Flatbush Ave., a Brooklyn development site situated at the intersection of Park Slope and Prospect Heights overlooking Grand Army Plaza and Prospect Park.
Quick Hits
Columns and Thought Leadership
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
