Cornerstone Capital of NY has closed a loan transaction for a retail property located at 3330 Park Ave in Wantagh. The loan was provided by Suffolk Federal Credit Union to the landlord, Shawn Kruddar. The loan amount was $1,725,000 with a 7-year fixed term and a 30-year amortization. The interest rate was 3.625% with a 75% loan-to-value ratio and no prepayment penalty.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $1,725,000
• Date: 07/27/2021
• Address: 3330 Park Ave.
• Market: Wantagh

Cornerstone Capital of NY, represented by Russell Nova, Alexander Nemirovskiy, and Igor Zakh of CornerstoneCapitalOfNY, worked exclusively with the Sponsor to ensure the best possible terms and a seamless closing process. The team provided aggressive terms with a 3.625% interest rate, a 7-year fixed term, and a 30-year amortization. They also negotiated no pre-payment penalty with the lender. The transaction was closed in just 45 days. Russell Nova can be contacted at 917 559 1820 or [email protected], Igor Zakh at 917 567 1646 or [email protected], and Alexander Nemirovskiy at 347 751 5232 or [email protected].