Cornerstone Capital Of NY Secures Financing For 13-Unit Multifamily Property In Chicago | 1615 West Highland Avenue | Waterman Capital | Igor Zakh, Alexander (Alex Nem) Nemirovskiy, Russell Nova | MultiFamily | Loan

Summary

Loan

ILLINOIS

MultiFamily

105,000 sqft

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]

Players

All
5

Agents
3
Agencies
1
Lenders
1

Igor Zakh

Chief Operating Officer

Alexander (Alex Nem) Nemirovskiy

Senior Credit Officer

Russell Nova

Principal

$48.3M Sold

Cornerstone Capital Financing

Waterman Capital

Details

Deal Summary

FINANCED

IMAGE: Igor Zakh, Russell Nova & Alex Nemy DATE: 11/01/2022 ADDRESS: 1615 W Highland Ave MARKET: Chicago ASSET TYPE: Multifamily ~ UNITS: 13 ~ SF: 105,000 LENDER: Waterman Captial Bank LANDLORD: Vish Raya BROKERS: Russell Nova (@RussellNova), Igor Zakh (@Igor_Zakh) & Alex Nemy (@Alex_Nemy) - Cornerstone Capital of NY (@CornerstoneCapitalofNY) LOAN AMOUNT: $2,600,000 LOAN TYPE: Refinance LOAN TERMS: 2 Year Interest Only, then 30 Year Amortization NOTE FROM BROKERS: @CornerstoneCapitalofNY secured Financing on this 13 UNIT Multifamily property in the heart of Chicago. The owner of the property contacted Cornerstone Capital as we are a very active Debt Advisory firm with over 85+ Commerical Banks and strategic partners when analyzing and underwriting Multifamily property. We were able to pull out FULL CASH out for the owner, giving him the ability to reinvest back into the Market. Considering we are heading into a recession, having cash will go a long way going in Q1 / Q2 of 2023 Contact US and yourself at the Closing Table. Russell Nova, Principal 917 559 1820 - Cell [email protected] Igor Zakh, Operating Officer 917-567-1646 - Cell [email protected] Alexander Nemirovsky, Credit Manager 347-751-5232 - Cell [email protected]

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Address1615 West Highland Avenue

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