Ashkenazy Acquisition Corporation Secures $2.85 Million Refinance Loan From Modern Bank For Retail Property

The asset involved in this transaction is a retail property located at 99-25 Horace Harding Expressway in Corona. The loan amount secured for this asset is $2,850,000, and it is classified as a refinance loan.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,850,000
• Lender: Modern Bank
• Landlord: Ashkenazy Acquisition Corporation
• Loan Originator: Joseph Petrelli, Steven Caligor & Adam Reiss - Modern Bank
• Loan Type: Refinance

The key individuals involved in this transaction include Joseph Petrelli, Steven Caligor, and Adam Reiss, all representing Modern Bank as the loan originators. Modern Bank is actively pursuing financing opportunities for various asset types in the tri-state area, focusing on bridge, permanent, and note-on-note financing for free-market multifamily, industrial, and mixed-use assets.