Cornerstone Capital Of NY Secures Financing For 13-Unit Multifamily Property In Chicago

The Multifamily property located at 1615 W Highland Ave in Chicago has undergone a refinancing transaction. The property consists of 13 units with a total square footage of 105,000. The loan amount for this transaction was $2,600,000, provided by Waterman Capital Bank. The loan terms include a 2-year interest-only period, followed by a 30-year amortization schedule.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,600,000
• Units: 13
• Square Footage: 105,000
• Address: 1615 W Highland Ave
• Market: Chicago

Cornerstone Capital of NY, represented by Russell Nova, Igor Zakh, and Alex Nemy, served as the brokers for this refinancing transaction. Vish Raya is the landlord of the property. Cornerstone Capital's extensive network of over 85+ commercial banks and strategic partners enabled them to secure financing for this active Multifamily property. The owner was able to pull out full cash from the property, providing them with the ability to reinvest in the market. This strategic move will be advantageous for the owner, especially considering the economic recession anticipated in Q1/Q2 of 2023.

For more information or to discuss similar transactions, you can reach out to:

• Russell Nova, Principal - 917 559 1820 - [email protected]
• Igor Zakh, Operating Officer - 917-567-1646 - [email protected]
• Alexander Nemirovsky, Credit Manager - 347-751-5232 - [email protected]