Robert Ranieri Of NorthMarq Secures $50M Loan For Williamsburg MultiFamily Property

The Lewis Steel Building, located at 76 N 4th St in Brooklyn, NY 11249, is an 83-unit apartment building in Brooklyn's Williamsburg neighborhood. The property, originally a steel factory built in the 1930s, spans 13,285 square feet of ground-floor commercial space. The refinancing of this multi-family asset was facilitated through an undisclosed regional bank for a loan amount of $50,000,000.00.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $50,000,000.00
• Borrower's Representative: Robert Ranieri (NorthMarq)
• Lender: Undisclosed Regional Bank
• Loan Term: Five years
• Payment Structure: Two years of interest-only payments, followed by a 30-year amortization schedule

Robert Ranieri of NorthMarq played a pivotal role in arranging the $50 million loan for the refinancing of The Lewis Steel Building. The borrower's details were not disclosed in this transaction, maintaining confidentiality throughout the deal.