News:
Brokerage
Posted: February 11, 2008
Ranieri of NorthMarq secures $9.1m for 75-unit multifamily property
Robert Ranieri, senior vice president and managing director of capital markets in NorthMarq Capital, Inc.'s greater Westchester NY/CT regional office, arranged first mortgage/purchase acquisition financing in the amount of $9.1 million for Cornwall Park Townhouses. Financing for the 75-unit multifamily property was based on a 10-year term with five-years interest only and then a 30-year amortization schedule and was arranged for the borrower, Cornwall Park Townhouses, LLC, by NorthMarq through its seller-servicer relationship with Freddie Mac.
NorthMarq, a national real estate investment banker headquartered in Minneapolis with 28 regional offices coast-to-coast, provides commercial real estate debt and equity financing and commercial loan servicing.
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
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
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
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,
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,
