Cornerstone Capital Financing Secures $7.65M Construction Loan for Development Site in Bayonne
Cornerstone Capital Financing, led by Russell Nova, Alexander Nemirovskiy, and Igor Zakh, has secured a $7.65 million construction loan for a development site in Bayonne, New Jersey.
Cornerstone Capital Financing, a leading commercial real estate financing firm, has successfully secured a $7.65 million construction loan for a development site located at 17 Avenue E in Bayonne, New Jersey. The loan, which is a two-year fixed and prime based loan, will be used for a two-phase multifamily development project.
The development site, with a buildable square footage (BSF) of 37,922, presents an attractive opportunity for investors and developers. Bayonne, a city in Hudson County, has been experiencing a surge in real estate development in recent years, making it an ideal location for this project.
Russell Nova, Principal at Cornerstone Capital Financing, played a key role in securing the loan. With his extensive experience in commercial real estate financing, Nova was able to negotiate the most favorable terms for his clients. Alexander Nemirovskiy, Credit Manager at Cornerstone Capital Financing, also contributed to the deal by underwriting and assessing the creditworthiness of the project.
Igor Zakh, Operating Officer at Cornerstone Capital Financing, provided operational support throughout the loan process. His expertise in project management ensured a smooth and efficient execution of the deal. Together, Nova, Nemirovskiy, and Zakh formed a formidable team that successfully closed the transaction.
Cornerstone Capital Financing competed with other large advisory firms to secure the financing for this project. The firm’s ability to underwrite, negotiate, and secure favorable terms from the term sheet set them apart from the competition. Their commitment to providing the most conducive terms with the certainty of execution demonstrates their dedication to their clients.
The successful closing of this construction loan marks another milestone for Cornerstone Capital Financing. With their expertise and track record in commercial real estate financing, the firm continues to be a trusted partner for developers and investors in the New Jersey market. As Bayonne’s real estate market continues to thrive, Cornerstone Capital Financing is well-positioned to capitalize on future opportunities in the area.
For more information about Cornerstone Capital Financing and their services, please contact Russell Nova at Russell@CSG-NY.com or 917-559-1820 (cell), Igor Zakh at Igor@CSG-NY.com or 917-567-1646 (cell), or Alexander Nemirovskiy at Alexander@CSG-NY.com or 347-751-5232.