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
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