Cornerstone Capital Of NY Secures $2.7M Acquisition Loan For Wantagh Retail Property

A retail property located at 1901 Wantagh Ave in Wantagh, Long Island recently underwent a closed transaction. The property spans approximately 22,250 square feet and is situated in the Wantagh market.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $2,700,000
• Loan Type: Acquisition
• Loan Terms: 7 Year Fixed, 3.9%, 25 Year Amortization
• Lender: AMC Bank
• Landlord: Matthew Kruger
• BROKERS: Russell Nova, Alex Nemirovskiy & Igor Zakh - Cornerstone Capital Of NY

The financing for the property acquisition was secured by Cornerstone Capital Of NY. The loan amount obtained was $2,700,000, with a loan-to-value (LTV) ratio of 75%. The loan terms include a 7-year fixed period, a 3.9% interest rate, and a 25-year amortization schedule.

Russell Nova, Alex Nemirovskiy, and Igor Zakh from Cornerstone Capital Of NY worked directly with the lender, AMC Bank, to ensure all requirements were met in a timely manner. The Underwriting, Processing, and Coordination with the bank were handled by the team at Cornerstone Capital Of NY. The professionals involved in the deal include Russell Nova, Principal, reachable at 917-559-1820 or [email protected]; Igor Zakh, COO, reachable at 917-567-1646 or [email protected]; and Alexander Nemirovskiy, reachable at 347-751-5232 or [email protected].