Northmarq Arranges $32M Loan for Refinancing of Office Building in Melville, New York

by Taylor Williams

MELVILLE, N.Y. — Northmarq has arranged a $32 million loan for the refinancing of a 273,103-square-foot office building located on the Long Island community of Melville. The four-story building at 445 Broadhollow Road was constructed in 1981 and renovated in 2021. Ernest DesRochers, Charles Cotsalas and Robert Delitsky of Northmarq arranged the 10-year, nonrecourse loan, which carried a fixed interest rate and a 25-year amortization schedule, on behalf of the undisclosed borrower. The direct lender was also not disclosed.

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