$10.5M Mortgage for Gateway Building in NYC
Posted November 13, 2011
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Craig Bjornsund, Senior Vice President and Managing Director of NorthMarq Capital's New York Metro Regional office, has arranged first mortgage financing in the amount of $10.5 million for the Gateway Building at 127-137 East 125th Street in New York, New York.
The property contains 41,832 square feet of mixed-use space. Major tenants include Duane Reade, Raymour & Flanagan and NYSARC. Financing was based on a 7-year term and a 25-year amortization schedule.
This transaction was arranged for the borrower, 125th Street Gateway Ventures, LLC, by NorthMarq through its correspondent relationship with Symetra Life Insurance Company.
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