Cornerstone Capital Financing Provides $2.45M Bridge Loan For Multifamily Property In Chicago | 2430 North Damen Avenue & 1503 West Nelson Street | Igor Zakh, Alexander (Alex Nem) Nemirovskiy, Russell Nova | MultiFamily | Loan

Summary

Loan

ILLINOIS

MultiFamily

14,750 sqft

A $2,450,000 bridge loan was secured for the acquisition of a 16-unit multifamily property located at 2430 North Damen Avenue and 1503 West Nelson Street in Chicago. The property spans 14,750 square feet and is owned by Randy Toa.

Summary of transaction details:

Property Type: Multifamily
Transaction Amount: $2,450,000
Units: 16
Square Footage: 14,750
Address: 2430 North Damen Avenue & 1503 West Nelson Street
Market: Chicago

Russell Nova, Igor Zakh, and Alexander Nemirovskiy of Cornerstone Capital Financing worked as brokers on behalf of the borrower to ensure the successful closing of the deal. This transaction strengthens the relationship between Cornerstone Capital and their client, demonstrating their commitment to fostering client and bank relationships. In today's credit environment, maintaining strong relationships can be crucial in achieving successful deals.

Contact information for the Cornerstone Capital team involved in this transaction:

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
4

Agents
3
Agencies
1

Igor Zakh

Chief Operating Officer

Alexander (Alex Nem) Nemirovskiy

Senior Credit Officer

Russell Nova

Principal

$48.3M Sold

Cornerstone Capital Financing

Details

Deal Summary

FINANCED

IMAGE: Igor Zakh, Russell Nova & Alexander Nemirovskiy DATE: 06/01/2023 ADDRESS: 2430 North Damen Avenue & 1503 West Nelson Street MARKET: Chicago ASSET TYPE: Multifamily ~ UNITS: 16 ~ SF: 14,750 LANDLORD: Randy Toa BROKERS: Russell Nova (@RussellNova), Igor Zakh (@Igor_Zakh) & Alexander (Alex Nem) Nemirovskiy (@Alex_Nem) - Cornerstone Capital Financing (@CornerstoneCapitalofNY) LOAN AMOUNT: $2,450,000 LOAN TYPE: Bridge Loan LOAN TERMS: 24 Month Bridge based on SOFAR - 70 LTV NOTE FROM @CornerstoneCapitalofNY: secured Financing on this 16 UNIT Multifamily property in Chicago. Congrats to the Team for working with the Sponsors and The Lender to ensure a time sensitive closing. This is a returning client for Cornerstone Capital as we are committed to growing our Client and Bank Relationships. In todays credit environment, Relationship is KEY and can mean the difference between Closing and a Re-Trade Contact US and yourself at the Russell Nova, Principal 917-559-1820 - Cell [email protected] Igor Zakh, Operating Officer 917-567-1646 [email protected] Alexander Nemirovsky, Credit Manager 347-751-5232 - Cell [email protected]

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Address2430 North Damen Avenue & 1503 West Nelson Street

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