DEAL OF THE DAY: NorthMarq Capital Arranges $18M Freddie Mac Loan for Manhattan Apartment Building
Craig Bjornsund, senior vice president and managing director of NorthMarq Capital’s (NorthMarq) New York Metro Regional office arranged first mortgage financing in the amount of $18 million for 2161-2169 Broadway (235-241 W. 76th Street) in Manhattan.
New York–Craig Bjornsund, senior vice president and managing director of NorthMarq Capital’s (NorthMarq) New York Metro Regional office arranged first mortgage financing in the amount of $18 million for 2161-2169 Broadway (235-241 W. 76th Street) in Manhattan.
The property contains 76 units of multifamily residential apartments. Financing was based on a 10-year term and a 30-year amortization schedule and was arranged for the borrower, Colorado Associates LLC, by NorthMarq through its seller-servicer relationship with Freddie Mac.
“Freddie Mac was able to deliver a very competitive long-term fixed rate on this extremely well-located Upper West Side apartment building. The building boasts large pre-war units with wonderful light and air,” says Bjornsund.
