Cornerstone Capital Of NY Arranges $2.5M Loan For Mixed-use Property In Jersey City | 320 Central Avenue | Spencer Savings Bank | Igor Zakh, Alexander (Alex Nem) Nemirovskiy, Russell Nova | Mixed-use | Loan

Summary

Loan

NEW JERSEY

Mixed-use

13,364 sqft

Located at 320 Central Ave in Jersey City, NJ, this mixed-use property has recently undergone a refinancing loan transaction. The property encompasses a total of 13,364 square feet and consists of 10 residential units and 2 commercial units. The loan amount secured for this transaction was $2,500,000, with a loan type of refinance. The loan terms included a 5-year fixed rate of 4.75%, a loan-to-value (LTV) ratio of 70%, and a 30-year amortization period.

Summary of transaction details

Property Type: Mixed-use
Transaction Amount: $2,500,000
Address: 320 Central Ave, Jersey City, NJ
Market: Jersey City, NJ
Square Footage: 13,364

Russell Nova, Igor Zakh, and Alex Nemirovskiy from Cornerstone Capital of NY served as the brokers involved in this transaction, representing the buyer and seller. The lender for this refinancing loan was Spencer Savings. The landlord of the property is Louis Aggasi.

It is worth mentioning that Cornerstone Capital of NY takes pride in working closely with the lender and borrower to ensure transparency and favorable rates and terms. The team, led by Igor Zakh, played a vital role in securing the most favorable terms for the client, especially during these uncertain times and the increasing rate environment.

To reach the team involved in this transaction, you can contact:

Russell Nova, Principal
Mobile: 917-559-1820
Email: [email protected]

Igor Zakh, Operating Officer
Mobile: 917-567-1646
Email: [email protected]

Alexander Nemirovskiy, Senior Credit Officer
Mobile: 347-751-5232
Email: [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

Spencer Savings Bank

Details

Deal Summary

FINANCED

IMAGE: Russell Nova, Igor Zakh & Alex Nem DATE: 10/28/2022 ADDRESS: 320 Central Ave MARKET: Jersey City, NJ ASSET TYPE: Mixed-use ~ SF: 13,364 LENDER: Spencer Savings LANDLORD: Louis Aggasi BROKERS: Russell Nova (@RussellNova), Igor Zakh (@Igor_Zakh) & Alex Nem (@Alex_Nem) - Cornerstone Capital of NY (@CornerstoneCapitalofNY) LOAN AMOUNT: $2,500,000 LOAN TYPE: Refinance LOAN TERMS: 5 Year Fixed, 4.75% Rate, 70 LTV, 30 Year Amortization NOTE FROM @CornerstoneCapitalofNY: Secured Financing on this Mixed Use property in the heart of Jersey City. This was 10 Residential Units / 2 Commerical Units. We provided a 4.75% Rate, 5 Year Fixed, 70 LTV, 30 Year Amortization! @IgorZakh along with our Team took lead on this transaction and ensured that our client received most favorable Rates and Terms. Having a close relationship with your lender is extremity crucial, especially during these times of uncertanity and increasing rate environment. @CornerstoneCapitalofNY, takes pride in working with our Lender and Borrower to ensure full transparency and the most important item which is . Contact US and envision yourself at the Russell Nova, Principal 917-559-1820 - Mobile [email protected] Igor Zakh, Operating Officer 917-567-1646 - Mobile [email protected] Alexander Nemirovskiy, Senior Credit Officer 347-751-5232 - Mobile [email protected]

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Address320 Central Avenue

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