$5.7M Mortgage For Paradise Theater

Posted on November 25, 2011, 5:34 pm
FavoriteLoadingAdd to favorites 5 secs

Craig Bjornsund, Senior Vice President and Managing Director of NorthMarq Capital’s New York Metro Regional office has arranged first mortgage refinancing in the amount of $5.7 million for the Paradise Theater at 2403-2419 Grand Concourse, Bronx, NY.

This historic theater contains 55,150 square feet and was recently renovated for live events. Financing was based on a 10-year term.

This transaction was arranged for the borrower, The First Paradise Theaters Corporation, by NorthMarq through its correspondent relationship with Symetra Life Insurance Company.

“Symetra was able to underwrite this unique property which is anchored by a well-known historic theater based on the strong track record of the borrower and the fact that a significant portion of the income comes from other, more typical commercial tenants,” said Bjornsund.

For more information about , please go here.

 

Jonas Bronck is the pseudonym under which we publish and manage the content and operations of The Bronx Daily.™ / Bronx.com - the largest daily news publication in the borough of "the" Bronx with over 1.5 million annual readers. Publishing under the alias Jonas Bronck is our humble way of paying tribute to the person, whose name lives on in the name of our beloved borough.