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2309 Lake Worth Road

Cornerstone Capital Financing Secures $1.4M Refinance Loan For Lake Worth Multifamily
FINANCEDMultiFamily

Cornerstone Capital Financing Secures $1.4M Refinance Loan For Lake Worth Multifamily

2309 Lake Worth Road

$1,400,000

$170/SF

Building Size

8,190 SF

Asset Type

MultiFamily

Closing

May 1, 2024

AI

The property at 2309 Lake Worth Road in Lake Worth is a 10-unit multifamily asset spanning 8,190 square feet. The loan for this property was facilitated by Waterman Bank for a total amount of $1,400,000. The landlord of this multifamily property is Linda Rotthie. The financing deal was brokered by Russell Nova, Alexander Nemirovskiy, and Igor Zakh from Cornerstone Capital Financing.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,400,000
  • Units: 10
  • Square Footage: 8,190
  • Address: 2309 Lake Worth Road
  • Market: Lake Worth

The key individuals and companies in this deal include Russell Nova, who is the Principal of Cornerstone Capital Financing and can be reached at 917 559 1820, email [email protected]; Igor Zakh, serving as the COO with a contact number of 917 567 1646, email [email protected]; and Alexander Nemirovsky, the Credit Manager, reachable at 347-751-5232 or email [email protected]. These professionals worked directly with the property owner to secure financing with favorable terms for the business plan.

Players

Russell Nova

Cornerstone Capital Financing

Broker

$491.1M

vol

76 deals

Broker
Waterman Bank
Waterman Bank Lender

Lake Worth MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

11.33%

Cash-on-Cash

-3.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93