Kearny Bank Provides $3.7 Million Refinance Loan To Zubair Monissan For Retail Asset In Jamaica
87-20 Sutphin Boulevard
$3,700,000
Building Size
—
Asset Type
Retail
Closing
Mar 1, 2026
About this deal
AI
The asset involved in this transaction is a retail property located at 87-20 Sutphin Boulevard in the Jamaica market. The transaction is a refinance loan amounting to $3,700,000 with a loan term of 5 years fixed and a 25-year amortization at a rate of 6% for full cash out.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,700,000
- Lender: Kearny Bank
- Landlord: Zubair Monissan
- Loan Type: Refinance
- Loan Terms: 5 Year Fixed, 25 Year Amortization, 6% (Full Cash Out)
- Brokers: Russell Nova, Igor Zakh & Sean Kuts - Cornerstone Capital Financing
The financing was secured by Cornerstone Capital Financing, which was retained by the sponsor to facilitate a full cash-out needed for the purchase of another property. The loan was managed by Igor Zakh as COO, Sean Kuts as Credit Manager, and Russell Nova as Principal, highlighting the team's experience and relationship-building approach in a challenging lending environment.
On the Map
$3,700,000
Retail
View full map
Players
Jamaica Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
Loading comparables…
Deal FAQ
Browse Jamaica retail loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93