612
NEW YORK CITY — Northmarq has arranged a $50 million loan for the refinancing of The Lewis Steel Building, an 83-unit apartment building in Brooklyn’s Williamsburg neighborhood. The five-story property, which includes 13,285 square feet of ground-floor commercial space, was originally constructed in the 1930s as a steel factory and converted to residential use in 2015. Robert Ranieri of Northmarq arranged the loan, which carried a five-year term with two years of interest-only payments followed by a 30-year amortization schedule, through an undisclosed regional bank. The borrower was also not disclosed.