Bank Of Hope Provides $5 Million Refinance For Mixed-Use Property In Lenox Hill

The property asset involved in the transaction is a mixed-use building located at 1330 3rd Avenue in the Lenox Hill market. This asset encompasses a total square footage of 7,312 and consists of 9 units, including 1 commercial unit and 8 residential units.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $5,000,000
• Lender: Bank of Hope
• Loan Type: Refinance
• Loan Terms: 5 Year Fixed, 30 Year Amortization, 5.65% Rate
• Brokers: Russell Nova & Igor Zakh - Cornerstone Capital Financing

The deal was facilitated by Russell Nova and Igor Zakh from Cornerstone Capital Financing, who worked alongside their internal team to ensure a seamless closing for the buyer. Cornerstone Capital Financing was specifically retained by the purchaser to secure financing for the mixed-use property, showcasing their expertise in debt advisory services for various commercial assets.