Cornerstone Capital Secures $1.5M Acquisition Loan For Mixed-Use Property In Williamsburg

The property located at 676 Driggs Avenue in Williamsburg, Brooklyn is a mixed-use asset spanning 3,000 square feet. The loan for this acquisition was facilitated by Waterman Capital Bank for a total amount of $1,500,000 at a fixed rate of 7.25% over 3 years with a 30-year amortization schedule.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $1,500,000
• Market: Williamsburg, Brooklyn
• Lender: Waterman Capital Bank
• Landlord: Prameet Biater
• Brokers: Russell Nova & Anu Nagpal - Cornerstone Capital Financing
• Loan Type: Acquisition
• Loan Terms: 3 Year Fixed, 30 Year Amortization, 7.25% Fixed. Options to extend an additional 3 Years

Cornerstone Capital Financing, represented by Russell Nova and Anu Nagpal, worked closely with the buyers to secure the best terms for the loan. Anu Nagpal, Senior Vice President at Cornerstone Capital, played a key role in ensuring that the loan aligned with the buyer's business strategy.