NorthMarq Capital Arranges $18M Freddie Mac Loan for Manhattan Apartment Building
- Mar 11, 2010
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.