Spencer Savings Provides $1.2M Acquisition Loan For Retail Property In Clifton, NJ

The retail property located at 1610 Main Avenue in Clifton, NJ has been involved in a recent closed transaction. The property spans approximately 3,500 square feet and is situated in the retail market of Clifton, NJ.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $1,200,000
• Loan Amount: $1,200,000
• Loan Type: Acquisition Loan
• Loan Terms: 10 Year Fixed (5+5) / 3.65% Rate / 25 Year Amortization
• Lender: Spencer Savings
• Landlord: Albert Shahada

Sean Kuts, representing Cornerstone Capital of NY, played a crucial role in the transaction. As the broker, Sean Kuts worked directly with the sponsor while they were searching for a single tenant property. Sean Kuts was able to negotiate favorable loan terms for the sponsor, ensuring this investment will be a lucrative cash-flow opportunity. Cornerstone Capital of NY is dedicated to providing aggressive terms that cater to the needs of property owners. Throughout the transaction process, a team of underwriters, loan coordinators, credit managers, and analysts worked together to ensure a seamless experience.

Contact information for Sean Kuts, the Senior Relationship Manager at Cornerstone Capital of NY:

• Email: [email protected]
• Phone: 718-975-8900 X 103