NORTHMARQ ARRANGES $8.1 MILLION LOAN FOR NYC PROPERTY

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NEW YORK CITY — NorthMarq Capital has arranged $8.1 million in first-mortgage financing for a mixed-use building located in New York City. The five-story property is located at 111-113 E. 12th St. It contains approximately 10,000 square feet of retail and office space as well as 15 apartments. The loan carries a 7-year term and a 25-year amortization schedule. Charles Cotsalas of NorthMarq's Long Island office arranged the loan on behalf of the undisclosed borrower through StanCorp Mortgage Investors.

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