425-New-York-Ave-Huntington-NY

NorthMarq Arranges $4.2M Construction Loan for Retail, Multifamily Property in Huntington, N.Y.

by Amy Works

HUNTINGTON, N.Y. — NorthMarq Capital has arranged a $4.2 million construction loan for a 17,340-square-foot retail and apartment building located at 425 New York Ave. in Huntington. The 2.5-year loan features an interest-only payment period during the construction with an option to convert to a permanent loan. Charles Cotsalas and Ernest DesRochers of NorthMarq secured the financing for the undisclosed borrower through NorthMarq’s relationship with a regional bank.

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