March 7, 2019
The Long Island and New York City offices of NorthMarq recently collaborated to arrange $15.1 million in financing for three industrial properties in Hauppauge, Melville and Copiague on Long Island, and a medical office building in the Bronx.
The largest transaction was arranged by the Long Island office’s Charles Cotsalas, who secured a $4.5-million refinance for Montefiore Medical Center at 3316 Rochambeau Ave. in the Bronx (pictured). NorthMarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with 40/86 Capital.
Cotsalas also secured a $4-million cash-out refi on 90 Nicon Ct. in Hauppauge, NY, a warehouse fully occupied by W.B, Mason. The permanent-fixed loan for 90 Nicon Realty LLC came from Lincoln Financial Group.
Additionally, Cotsalas arranged a $3.75-million cash-out refinance on 100 Marcus Dr. in Melville, NY, also from 40/86. Through NorthMarq’s correspondent relationship with Symetra, he arranged a $2.85-million refi on a Copiague industrial property.
For comments, questions or concerns, please contact Paul Bubny