Northmarq has successfully secured a $12.3 million refinance 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 an impressive 3,640 rentable square feet. The loan was expertly facilitated by Northmarq’s Robert Ranieri 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 and trendy establishments such as restaurants, bars, and shops. He further explains that after spending considerable time obtaining necessary approvals, they were able to secure a bridge/construction lender who recognized the potential value of renovated high-end townhouses in the West Village area.
The borrower’s plans include an extensive renovation project that will transform this property into a luxurious single-family residence while preserving its historic front facade. This includes adding five bedrooms, five bathrooms,a private rear yard,and even rooftop addition for added space and functionality.
This successful refinance deal is yet another testament to Northmarq’s expertise in securing financing solutions for commercial real estate properties across various markets without compromising on quality or efficiency.
