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Posted: March 24, 2020
Newmark Knight Frank negotiates $20.5 million for Infinity Real Estate; Financing by Bridge Investment Group
Staten Island, NY On behalf of Infinity Real Estate, Newmark Knight Frank (NKF) has arranged a $20.5 million floating-rate loan for the acquisition of the Shops at Richmond Ave. The NKF team was led by vice chairmen and co-heads of the New York Debt & Structured Finance group Dustin Stolly and Jordan Roeschlaub alongside senior managing director Chris Kramer. Bridge Investment Group provided the loan.
Located at 2505 Richmond Ave., the Shops at Richmond consist of two buildings totaling over 76,000 s/f. The buildings are occupied by tenants including Dick’s Sporting Goods, Staples, Men’s Wearhouse, Vitamin Shoppe, Starbucks and Bank of America.
“The Shops at Richmond Avenue is positioned at one of the most trafficked locations in all of Staten Island with proximity to major roadways connecting the entire New York Metro Area. Due to a combination of major transportation links, a borough population of more than 450,000 residents, and the adjacent 1.25 million s/f Staten Island mall, we expect a healthy market and continued success for this property,” Roeschlaub said.
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