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Brokerage
Posted: February 21, 2017
Ranieri of NorthMarq Westchester secures $2.6 million construction loan
Robert Ranieri, NorthmarqWhite Plains, NY Robert Ranieri, senior vice president/managing director of NorthMarq Capital’s Greater Westchester New York/Connecticut-based regional office, arranged a construction loan of $2.6 million for a 15,000 s/f retail property located at 316-332 Tarrytown Rd.
The transaction was structured with a one-year interest-only term. NorthMarq arranged financing for the borrowers through its relationship with a regional bank.
Harbor Freight Tools is the property’s sole tenant and will occupy the space. This will be Harbor Freight Tools’ first store in Westchester.
“The bank provided a construction loan that converts to a permanent loan once the tenant is open for business,” said Ranieri.
316-332 Tarrytown Road - White Plains, NY
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