DesRochers and Cotsalas of NorthMarq arrange $10 million refinance for X-Cell Realty, 166,931 s/f office property

Ernest DesRochers, NorthMarq

Charles Cotsalas, NorthMarq

New Hyde Park, NY Ernest DesRochers, senior vice president/managing director, and Charles Cotsalas, senior director of NorthMarq Capital, collaborated to arrange the $10 million refinance of X-Cell Realty, a 166,931 s/f office property located at 3333 New Hyde Park Rd. The transaction was structured with a fully amortizing 20-year term. NorthMarq arranged financing for the borrower through its relationship with a correspondent life insurance company.

“The lender structured the loan to allow for very flexible prepayment terms for the borrower during the last half of the loan term,” said DesRochers.

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks and has a long track record of multi-family loan origination through Freddie Mac Program Plus™, the Fannie Mae DUS program and through FHA, resulting in more than $12 billion in annual production volume and a loan portfolio of more than $47 billion. 

3333 New Hyde Park Road - New Hyde Park, NY