AMC Bank Provides $9.7M Refinance Loan For 80K SF Office In Maspeth

An 80,086 square-foot office and retail property located at 50-05 Metropolitan Ave in Maspeth was recently refinanced for $9,700,000. The property was built by the sponsor and is currently occupied at 85% capacity. The loan secured for this property has a 30-year amortization period, a 3.75% interest rate, and is non-recourse with no pre-payment penalties or phase 1 requirements.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $9,700,000
• Address: 50-05 Metropolitan Ave
• Market: Maspeth
• Square footage: 80,086

Cornerstone Capital of NY, represented by Russell Nova, Alex Nem, and Igor Zakh, secured and arranged the financing for this property. They worked closely with AMC Bank, the lender, to ensure all requirements were met promptly. At Cornerstone Capital, building relationships with the sponsorship and trusted lenders is a priority. Their team of underwriters, analysts, processors, loan coordinators, and credit managers collaborated to facilitate a seamless process.

For further inquiries, you can reach out to the following individuals:

• Russell Nova - Cornerstone Capital Of NY - 917-559-1820 - [email protected]
• Igor Zakh - Cornerstone Capital Of NY - 917-567-1646 - [email protected]
• Alexander Nemirovskiy - Cornerstone Capital Of NY - 347-751-5232 - [email protected]