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North River Company (NRC) and North Colony Asset Management
(NC) have refinanced the Matsil Building in Long Island City with a $51 million
loan from affiliates of AIG.
Cushman & Wakefield served as the exclusive advisor to a
joint venture owners is securing the fixed rate financing for the 312,513 s/f industrial
property that is fully leased to Maquette Fine Art Services, Ralph Lauren
Corporation and Motorola Solutions and features an adjacent half-acre parking
lot and direct interior loading docks.
NRC and North Colony bought the one-time factory building
from Metropolitan Realty Associates and TH Real Estate for $72 million in 2018.
“Since acquiring the property in December 2018, ownership