Long Island Office Buildings Close $26.7 in Refinancing, Acquisition Loans

MELVILLE, NY-Great Neck-based commercial mortgage banker M. Robert Goldman & Co. Inc. has arranged $26.7 million in permanent financing for two Long Island office buildings. The separate deals were finalized despite market jitters and financial and logistical challenges posed by the September 11 World Trade Center attacks.

MRG secured $18 million to refinance the 150,000-sf Melville Corporate Center, at 105 Maxess Rd., and $8.7 million in acquisition financing for the purchase of a 99,487-sf office building at 125 Baylis Rd., both in Melville. “In both of these transactions, unprecedented issues associated with the aftermath of September 11 challenged the financing process and threatened the deals,” says MRG executive vice president Jonathan Goldman.

The lender for the Baylis Road property, Bank of America, was represented by law firm Thatcher Proffitt & Wood, which occupied space in the World Trade Center. Guardian Life Insurance Co. of America, a correspondent of MRG whose offices at 7 Hanover Square were evacuated following the bombings, was the lender for 105 Maxess Rd.