Cornerstone Capital Of NY Arranges $5.17M Loan For Multifamily Property In Bedford Stuyvesant

Cornerstone Capital of New York, a leading real estate firm, recently facilitated a loan transaction for a multifamily property located at 290 Tompkins Ave in Bedford Stuyvesant. The property, consisting of 14 brand new units, is fully leased, making it an attractive investment opportunity. The loan was secured through Freddie Mac SBL, a well-known lender in the industry. With a loan amount of $5,167,000, the terms of the loan include a fixed rate for 10 years with a 30-year amortization schedule, at a rate of 3.4%.

Summary of Transaction Details:

• Property Type: Multifamily
• Transaction Amount: $5,167,000
• Address: 290 Tompkins Ave
• Market: Bedford Stuyvesant

Johnathan and Moshe Granit are the landlords of this property, in collaboration with Cornerstone Capital of New York. Russell Nova and Alexander Nemirovskiy, representatives from Cornerstone Capital of New York, facilitated the deal and worked closely with the sponsorship. Russell Nova, the Principal of the firm, can be reached at russell@csg-ny.com or 917-559-1820. Meanwhile, Alexander Nemirovskiy, the Senior Credit Manager, can be contacted at alexander@csg-ny.com or (347)-751-5232.

Cornerstone Capital of New York has demonstrated expertise in the multifamily market and has built strong relationships with both sponsors and brokers. Their seamless collaboration with the lender during the lease-up stage of this property allowed for efficient underwriting and ensured a timely closing once the property reached full occupancy.