Northmarq Arranges $9M Loan for Refinancing of Multifamily Building in White Plains, New York

by Taylor Williams

WHITE PLAINS, N.Y. — Northmarq has arranged a $9 million loan for the refinancing of Tireno Towers, a 54-unit multifamily building located north of New York City in White Plains. Built in the late 1960s, the property offers studio, one- and two-bedroom units, and three office suites are in the process of being converted to residential use. Robert Ranieri of Northmarq arranged the 10-year loan, which was structured with one year of interest-only payments and a 30-year amortization schedule, through an undisclosed regional bank. The borrower was also not disclosed.

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