{"id":1004809690,"date":"2026-08-21T05:02:17","date_gmt":"2026-08-21T13:02:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004809690"},"modified":"2026-08-21T05:25:52","modified_gmt":"2026-08-21T13:25:52","slug":"mattone-lands-32m-refi-for-queens-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mattone-lands-32m-refi-for-queens-retail-center\/","title":{"rendered":"Mattone Lands $32M Refi for Queens Retail Center"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/image_408f2b.png\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004809694\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/image-105\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/image_408f2b-edited.png\" data-orig-size=\"1318,989\" 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=\"Springnex Plaza in Queens\" data-image-description=\"&lt;p&gt;Image courtesy of Northmarq, attached to the press release.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Springnex Plaza is anchored by a Stop &#038; Shop store.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/image_408f2b-edited.png?w=1024\" height=\"768\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/image_408f2b-edited.png\" alt=\"Exterior shot of Springnex Plaza, a 97,000-square-foot retail center in Queens, N.Y.\" class=\"wp-image-1004809694\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/image_408f2b-edited.png 1318w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/image_408f2b-edited.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/image_408f2b-edited.png?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/image_408f2b-edited.png?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">Springnex Plaza is anchored by Stop &amp; Shop. <br><em>Image courtesy of Northmarq<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Mattone Group has received a $32 million refinancing loan for Springnex Plaza, its 92,028-square-foot retail center in Queens, N.Y. Principal Financial Group issued the note in a transaction arranged by Northmarq.<\/p>\n\n\n\n<p>The refinancing retires a previous $30 million loan originated in 2021 by FourLeaf Federal Credit Union, according to Yardi Matrix information.<\/p>\n\n\n\n<p>Springnex Plaza was completed in 1999 on a 5-acre site at 134-40 Springfield Blvd., in Queen\u2019s Springfield Gardens neighborhood. Anchored by Stop &amp; Shop, the retail center is currently entirely leased, featuring a tenant roster which includes Ashley Stewart, IHOP Restaurant, and Northwell Health. <\/p>\n\n\n\n<p>The U.S. retail landscape is actively <a href=\"https:\/\/www.commercialsearch.com\/news\/naree-special-report-retail-recovery-attracts-institutions\/\">displaying signs of recovery<\/a>, with limited development and reduced competition driving upwards occupancy levels, which, in return, attracts both investors and lenders. Between the first and second quarter of 2026, the first-quarter originations for retail properties increased 3 percent, according to a recent <a href=\"https:\/\/www.mba.org\/news-and-research\/newsroom\/news\/2026\/08\/06\/commercial-multifamily-borrowing-increased-16-percent-in-the-second-quarter-of-2026\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">MBA report<\/a>. Compared to the second quarter of 2025, the same metric rose 61 percent in the dollar volume of loans across retail assets.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/retail-market-trends\/\">What Will Power Retail\u2019s Next Act in 2026?<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Springnex Plaza is just off the Montauk Branch train line, as well as several other retail options, including a 140,000-square-foot Home Depot store. JFK International Airport is 3 miles south, along with Interstate 678 and New York State Route 878.<\/p>\n\n\n\n<p>Northmarq Senior Vice President &amp; Managing Director Robert Delitsky and Vice President Charles Cotsalas led the New York Metro Debt + Equity team which secured financing on behalf of Mattone Group.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Northmarq secured the financing.<\/p>\n","protected":false},"author":3619,"featured_media":1004809694,"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":[50380,37405],"class_list":["post-1004809690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","category-retail","tag-northmarq","tag-principal-financial-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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