Waterman Community Bank Provides $5.25M Refinance Loan For Multifamily Property In New York

A multifamily property located at 4132 44th St in New York has undergone a refinancing transaction. The loan was provided by Waterman Community Bank to the landlord, James Roamonof. The brokers, Russell Nova and Sean Kuts from Cornerstone Capital Financing, facilitated the financing for this property.

Summary of transaction details

• Property Type: Multifamily
• Loan Amount: $5,250,000
• Loan Type: Refinance
• Loan Terms: 10 Year Fixed, Non Recourse, 5.00%, 30 Year Amortization

Cornerstone Capital Financing, represented by Russell Nova and Sean Kuts, played a crucial role in arranging the financing for this multifamily property. The loan terms offered were particularly attractive, given the current market conditions. The 10-year fixed rate, non-recourse loan at 5% with a 30-year amortization period provides stability and favorable conditions for the landlord, James Roamonof. Cornerstone Capital Financing has built strong relationships with its clients over the years, showcasing their commitment and expertise in the industry.