Cornerstone Capital Secures $6.5M Refinance Loan For 29.5K SF Industrial Property In Long Island City

The property involved in this transaction is a 29,500 square foot warehouse located at 35-11 Greenpoint Ave in Long Island City. The asset type is industrial, and it is situated in the market of Long Island City.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $6,500,000
• Loan Type: Refinance
• Loan Terms: 20-Year Self Liquidating, 3.35%, 85% LTV
• Landlord: Anthony Fagalione
• BROKERS:
• Russell Nova - Cornerstone Capital of NY
• Alexander Nemirovskiy - Cornerstone Capital of NY
• Igor Zakh - Cornerstone Capital of NY
• Alfred Fisher - Cornerstone Capital of NY

Cornerstone Capital of NY secured the financing for this warehouse, which was obtained by a buyer looking to expand their business. The property had a few minor environmental issues. Cornerstone Capital of NY has strong banking relationships, and they were able to convince the bank to proceed with the transaction and allow the buyer to clean the property post-closing. Relationship matters to Cornerstone Capital of NY, and they take pride in their banking, realtor, and sponsor relationships.

Contact information for the key individuals involved in this deal:

• Russell Nova, Principal - [email protected], 917-559-1820
• Igor Zakh, COO - [email protected], 917-567-1646
• Alfred Fisher, SVP - [email protected], 718-207-7509
• Alexander Nemirovskiy, Credit Manager - [email protected], 347-751-5232