Berns of NorthMarq arranges $4.6 million mortgage for 126-unit multifamily

Sam Berns, senior VP and managing director of NorthMarq Capital's upstate New York regional office, arranged first mortgage financing in the amount of $4.6 million for Creek Hill Apartments, a 126-unit multifamily property. Financing was based on a five-year term and a 20-year amortization schedule and was arranged for the borrower by NorthMarq through a regional bank. According to Berns, the lender provided a flexible pre-payment penalty allowing the sponsor to refinance using agency debt when appropriate. NorthMarq offers a full range of commercial real estate solutions across the country from its headquarters in Minneapolis, Minn. The NorthMarq Capital group offers commercial real estate investment banking, investment sales, real estate debt and equity financing, and commercial loan servicing in 32 offices coast-to-coast, averaging $10 billion in annual production volume and servicing a loan portfolio of more than $37 billion. NorthMarq Real Estate Services provides brokerage, property management and healthcare advisory services to investors and space users, and through its Corporate Solutions division, provides mid-size corporate users real estate services nationwide. For more information, please visit www.northmarq.com.

Tags: Brokerage

Reprint

Previous Story Next Story

Meridian Capital Group arranges 10-year retail lease for Mess at 236 West 10th St.

Manhattan, NY According to Meridian Capital Group, Jordan Langer, Noam Aziz and Carson Shahrabani of the firm’s retail leasing team have arranged a five-year lease at 236 West 10^thSt. in Greenwich Village

Houlihan Lawrence Commercial sells residential development site for $2.1 million

Houlihan Lawrence sells development site for $2.1m

GFP Real Estate signs Knit Illustrated to 4,051 s/f five-year lease at 247 West 37th St.

GFP R.E. signs Knit Illustrated to 4,051 s/f at 247 West 37th St.

The Feil Organization signs 15-year, 46,000 s/f renewal with Thompson Coburn LLP at 488 Madison Ave.

Feil signs 46,000 s/f renewal with Thompson Coburn at 488 Madison Ave.

Cushman & Wakefield arranges 16,051 s/f lease at 125 Broad St. to Harris Trzaskoma, LLP

C&W arranges 16,051 s/f lease at 125 Broad St. to Harris Trzaskoma

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Brokerage

Berger and Koicim of Marcus & Millichap sell 17-unit multi-family for $8.8 million

Columns and Thought Leadership

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.

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,

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