Cornerstone Capital Financing Secures $3.1M Refinance Loan For Retail Property On Merrick Blvd In Queens NY

The retail property located at 22802 Merrick Blvd in Queens, NY has recently undergone a refinancing transaction. With a size of 21,225 square feet, the property is owned by Mohmmmed Qasey. Waterman Community Bank provided the loan for this transaction, with a total amount of $3,100,000. The loan terms include a 5-year fixed rate and a 30-year amortization period.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $3,100,000
• Lender: Waterman Community Bank
• Landlord: Mohmmmed Qasey
• Brokers: Igor Zakh, Russell Nova & Alexander Nemirovskiy - Cornerstone Capital Financing

Cornerstone Capital, represented by Igor Zakh and the internal staff, successfully secured financing for this retail property. Despite being only 50% occupied, Cornerstone Capital's strong relationship with the lender allowed them to obtain a fixed-rate loan. The company's team of analysts, underwriters, loan coordinators, and relationship managers worked together to provide a seamless process for their clients. At Cornerstone Capital, they prioritize maintaining strong relationships with both lenders and sponsors to meet their clients' needs.

If you have any inquiries about this transaction, feel free to contact the following individuals:

Nova, Principal
Cell: 917-559-1820
Email: [email protected]

Igor Zakh, Operating Officer
Cell: 917-567-1646
Email: [email protected]

Alexander Nemirovsky, Credit Manager
Cell: 347-751-5232
Email: [email protected]