Northmarq successfully secured a $12.3 million refinancing for a three-story townhouse located at 52 Charles St in the highly sought-after West Village neighborhood. Originally built in 1899, this two-family townhouse offers 3,640 rentable square feet and is now poised for further development thanks to Northmarq’s Robert Ranieri who facilitated the loan through a bridge lender on behalf of the borrower.
According to Ranieri, this property boasts an ideal location near Union Square and Washington Square Park as well as easy access to multiple subway lines. It also sits within walking distance of popular restaurants, bars and shops making it an attractive investment opportunity.
The borrower has already spent considerable time obtaining necessary approvals for their plans which include transforming the current layout into a luxurious single-family townhouse with five bedrooms, five bathrooms, private rear yard space and even adding rooftop amenities. This project will preserve its historic front facade while elevating its overall value potential in one of New York City’s most coveted neighborhoods.
