Kearny Bank Provides $3.7 Million Refinance Loan To Zubair Monissan For Retail Asset In Jamaica

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.