News:
Brokerage
Posted: March 24, 2020
Ranieri of NorthMarq completes $7 million refinance
New York, NY Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains office arranged the $7 million refinance of a 12,636 s/f mixed-use property, located at 301 East 84th St. The transaction consists of a $5 million first mortgage and $2 million line of credit.
“The existing lender was willing to increase the line of credit and provide a new first mortgage in order for the client to pursue additional real estate development,” said Ranieri. “The property contains 25 residential units and one ground floor commercial unit.”
NorthMarq arranged the financing for the borrower through its relationship with PCSB Bank. The first mortgage carries a 15-year term at a permanent fixed rate, with 1-year interest only and 29-year amortization schedule. The line of credit carries a five-year term with an interest-only floating rate.
Tags:
Brokerage
MORE FROM Brokerage
200E20TH sells out in Gramercy, penthouse A closes out sales at the CetraRuddy-designed condominium residences
Manhattan, NY 200E20TH, the CetraRuddy-designed architectural masterwork that brought a curved, contemporary sensibility to Gramercy’s Beaux-Arts streetscape, has
Quick Hits
 (2).gif)
Columns and Thought Leadership
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt CRE question and answer: Choosing a real estate agent - by David Hunt
First, we will only work with one agent exclusively. The primary reason is that we want that agent to legally represent our client’s interests. In New York State, a real estate agent has a fiduciary
The art of investing in real estate - by Thomas Donovan
Real estate investing is as much an art as it is a skill. No one can time the market, or the factors that drive it, perfectly. Location, zoning, size, transportation, and neighborhood density give you a baseline for
.gif)