BlueGate Partners, LLC (“BlueGate”) arranged a $7.5 million permanent loan with Natixis for 71 Reade Street and 87 Chambers Street in New York City (the “Property”), a 5,166 square foot retail building. The Property has a combined 82 feet of frontage along Reade and Chambers Streets. City MD has signed a 15 year lease at the Property to occupy 4,382 square feet.
City MD is an urgent care provider offering fast, comprehensive, and professional health care with over 40 locations throughout Manhattan, Brooklyn, Queens, Long Island, Westchester and Rockland County. There are currently 11 locations in Manhattan with four more planned. City MD is a well-established organization with highly trained physicians and staff members that provide convenience, quality of service and superior medical care. The company is very well capitalized.
BlueGate is a boutique real estate investment banking firm with offices in New York and Palm Beach, and offers services in the areas of investment sales, portfolio and property financing, and debt and equity capital raising for real estate projects.