{"id":1004210073,"date":"2018-03-13T05:47:56","date_gmt":"2018-03-13T13:47:56","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004210073"},"modified":"2018-04-09T10:35:00","modified_gmt":"2018-04-09T18:35:00","slug":"ny-shopping-center-lands-19m-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ny-shopping-center-lands-19m-financing\/","title":{"rendered":"NY Shopping Center Lands $19M Financing"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004210080\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Rosman-Center-Haverstraw-NY.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004210080\" data-attachment-id=\"1004210080\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ny-shopping-center-lands-19m-financing\/rosman-center-haverstraw-ny\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Rosman-Center-Haverstraw-NY.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Rosman Center, Haverstraw, N.Y.\" data-image-description=\"&lt;p&gt;Rosman Center, Haverstraw, N.Y. &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rosman Center, Haverstraw, N.Y. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Rosman-Center-Haverstraw-NY.jpg?w=800\" class=\"wp-image-1004210080 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Rosman-Center-Haverstraw-NY.jpg\" alt=\"Rosman Center, Haverstraw, N.Y. \" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Rosman-Center-Haverstraw-NY.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Rosman-Center-Haverstraw-NY.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Rosman-Center-Haverstraw-NY.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004210080\" class=\"wp-caption-text\">Rosman Center, Haverstraw, N.Y.<\/p><\/div>\n<p>NorthMarq Capital has negotiated an $18.5 million loan for Rosman Center, a 123,073-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/urstadt-biddle-invests-in-nj-shopping-center\/\">retail center in suburban New York<\/a>. According to public records, the borrower is an entity affiliated with real estate developer Eric Bergstol. National Life Group provided the fully amortizing, 20-year term mortgage.<\/p>\n<p>The shopping center has a strong tenancy profile,\u00a0with anchor tenant ShopRite recently renewing its 10-year,\u00a060,453-square-foot lease. The property sits at 42 W. Ramapo Road in Haverstraw, N.Y., in the vicinity of communities, eateries and banks. It is also close to\u00a0Palisades Interstate Parkway.<\/p>\n<p>Gary Cohen, senior vice president &amp; managing director of NorthMarq Capital&#8217;s New Jersey regional office, represented the borrower in the transaction.<\/p>\n<p>\u201c<em>NorthMarq was able to secure the borrower long-term financing with a national life company at an attractive rate before the run up on the treasuries began. Ownership was able to pay off their debt service and return trapped equity, which will be reinvested and put back into the property<\/em>,\u201d Cohen said in a prepared statement.<\/p>\n<p><em>Image courtesy of NorthMarq Capital<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 123,073-square-foot Rosman Center, located in Haverstraw, N.Y., has ShopRite as its anchor tenant. NorthMarq Capital procured the loan on behalf of the borrower. <\/p>\n","protected":false},"author":241,"featured_media":1004210080,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1600,21742,10,21749],"tags":[39298,34291,37599],"class_list":["post-1004210073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","category-retail","tag-gary-cohen","tag-northmarq-capital","tag-shoprite"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NY Shopping Center Lands $19M Financing - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/ny-shopping-center-lands-19m-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NY Shopping Center Lands $19M Financing\" \/>\n<meta property=\"og:description\" content=\"The 123,073-square-foot Rosman Center, located in Haverstraw, N.Y., has ShopRite as its anchor tenant. 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