Cornerstone Capital Of NY Arranges $2.5M Loan For Mixed-use Property In Jersey City

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]