Cornerstone Capital Of NY Secures $5.5M Refinance Loan For Williamsburg Multifamily

A brand new renovated 11-unit multifamily property located at 537 Grand Ave in Williamsburg has been refinanced. The property, owned by Uri Shauli, is strategically positioned for long-term growth. The loan amount for this transaction is $5,500,000, with a 10-year fixed term and a rate of 3.9%. The loan is interest-only for the full term and is non-recourse.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $5,500,000
• Units: 11
• Address: 537 Grand Ave
• Market: Williamsburg

Russell Nova, Alexander Nemirovskiy, and Igor Zakh of Cornerstone Capital of NY served as the brokers in this transaction. They worked closely with the landlord, Uri Shauli, to secure the refinance loan. The file was handled by Cornerstone Capital of NY's Chief Operating Officer, Igor Zakh, and Credit Manager, Alexander Nemirovskiy.

Cornerstone Capital of NY is known for its strong relationships with sponsors and has a team of underwriters, analysts, processors, loan coordinators, and credit managers working together to ensure a seamless process. For any future deals or inquiries, potential clients can contact Russell Nova, Nova's Principal at (917) 559-1820 or [email protected], Igor Zakh, COO at (917) 567-1646 or [email protected], and Alexander Nemirovskiy at (347) 751-5232 or [email protected].