facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Retail

/

Loan

/

92 Waverly Street

Jagdish Maaitter Refinances Yonkers Retail Property With $1,555,000 Loan
FINANCEDRetail

Jagdish Maaitter Refinances Yonkers Retail Property With $1,555,000 Loan

92 Waverly Street

$1,555,000

Building Size

Asset Type

Retail

Closing

Mar 13, 2024

AI

Anu Nagpal & Igor Zakh facilitated a $1,555,000 refinance loan for a retail property located at 92 Waverly Street in Yonkers. The loan features a 10-year fixed term with a 6.04% rate and a 25-year amortization schedule. The asset, a well-known Catering Hall, received capital to reinvest in its operations, benefiting from Cornerstone Capital Financing's expertise.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $1,555,000
  • Address: 92 Waverly Street
  • Market: Yonkers
  • Loan Type: Refinance
  • Loan Terms: 10 Year Fixed, 25 Year Amortization, 6.04% Rate with a Step Down Pre-Pay of 3/2/0/0/0
  • Landlord: Jagdish Maaitter
  • Brokers: Anu Nagpal & Igor Zakh - Cornerstone Capital Financing

The collaborative efforts of Anu Nagpal, Igor Zakh, and the Borrower ensured a successful refinancing process, providing the necessary capital for the Catering Hall's enhancements. Cornerstone Capital Financing prides itself on delivering value to property owners and operators, contributing to the growth and stability of local businesses in the community.

Players

Igor Zakh

Cornerstone Capital Financing

Broker

$287.8M

vol

46 deals

Broker

Yonkers Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.20%

Cash-on-Cash

-2.92%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93