FINANCED
Cornerstone Capital Arranges $4.4M Loan For Vacant Redhook Industrial Property
100 Van Brunt Street
Industrial
37,000 SF
37,000 SF
Financed 1 year ago
Summary
Loan
NEW YORK
Industrial
37,000 sqft
Cornerstone Capital has provided financing for a vacant warehouse located at 100 Van Brunt Street in the Redhook market. The industrial property spans approximately 37,000 square feet. The loan amount obtained for this transaction is $4,400,000. The financing terms include a 10-year fixed term, 75% loan-to-value ratio, 3.5% interest rate, and a 30-year amortization period.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $4,400,000
- Address: 100 Van Brunt Street
- Market: Redhook
- Square Footage: 37,000
Russell Nova, Sean Kuts, and Alexander Nemirovskiy from Cornerstone Capital acted as brokers for this deal. Shlomo Chartiff is the landlord of the property.
Cornerstone Capital facilitated the financing through a conventional bank, enabling the buyer to secure a loan with favorable terms. The lender offered a 10-year fixed term with a 3.5% interest rate. The loan-to-value ratio was set at 75%, and the amortization period spans 30 years. The vacant warehouse was successfully positioned for financing, demonstrating Cornerstone Capital's expertise in arranging long-term financing solutions for industrial and warehouse properties.
To navigate the transaction seamlessly, Russell Nova, Principal of Cornerstone Capital, and Sean Kuts, Relationship Manager, played crucial roles. They were able to leverage their industry knowledge and experience to support the realtors involved in the deal. Meanwhile, Alexander Nemirovskiy, Credit Officer at Cornerstone Capital, contributed to the transaction's successful completion.
This financing opportunity showcases Cornerstone Capital's commitment to understanding potential markets and approaching deals from a real estate investor's perspective. With their extensive network and expertise, they aim to guide buyers towards long-term success. Russell Nova stands by the quality of their services and is confident in their ability to deliver results.
For more information, please contact:
- Russell Nova - Principal - 917-559-1820
- Sean Kuts - Relationship Manager - 347-585-5212
- Alexander Nemirovskiy - Credit Officer - 347-751-5232
Players
All
4
Agents
3
Agencies
1
Details
FINANCED
IMAGE: Alexander Nemirovskiy, Russell Nova & Sean Kuts
DATE: 06/28/2021
ADDRESS: 100 Van Brunt Street
MARKET: Redhook
ASSET TYPE: Industrial ~ SF: 37,000
LANDLORD: Shlomo Chartiff
BROKERS: Russell Nova (@RussellNova), Sean Kuts (@Sean_Kuts) & Alexander Nemirovskiy (@Alex_Nemy) - Cornerstone Capital (@CornerstoneCapitalOfNY)
LOAN AMOUNT: $4,400,000
LOAN TERMS: 10 Year Fixed Term, 75 LTV, 3.5% Rate, 30 Year Amortization - Vacant Property
NOTE FROM CORNERSTONE: @CornerstoneCapitalofNY was able to Finance this VACANT WAREHOUSE with our Conventional Bank at 75% LTV, 10 Year Fixed with 3.5% Rate on a 30 Year Amortization. STOP Borrowing Hard Money for Vacant Industrial / Warehouse. Let @CornerstoneCapitalofNY arrange the Financing and position your Buyer for Long Term success. Our Lenders understand future potential markets with the capability of Thinking like a Real Estate Investor. Our main focus is that we (Cornerstone Capital) get's your to the finish line. ......Everyday
Russell Nova states, I bet my reputation on that!
Our Team @RussellNova @Sean_Kuts were able to position this property for our Realtors in a seamless process
@RussellNova / Russell Nova - Principal - 917 559 1820
@Sean_Kuts / Sean Kuts - Relationship Manager - 347-585-5212
@Alex_Nemy / Alexander Nemirovskiy - Credit Officer - 347-751-5232View on map
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