Cornerstone Group arranges two finance deals totaling $4.6 million; Includes $2.4 million by Zakh for 9829 Ditmas Avenue in Brooklyn

The Cornerstone Group of NY LLC (CSG-NY), a New York-based full-service commercial mortgage and advisory firm, has arranged two finance deals totaling $4.6 million. In the first deal, $2.4 million was placed for the owner of 9829 Ditmas Ave., a warehouse located in an area common for manufacturing and distributing in the Ditmas section. The loan will be used to purchase new inventory and machinery used to make this property so successful. The current owner is a fish distributor which has accounts with many of the leading supermarkets. Igor Zakh, COO of CSG-NY, who structured the deal, has experience with many property type, is vital in the community. "With over 10 years of being a leader in the commercial financing sector, it allows us to be aggressive and arrange financing for many different asset classes." The 40,000 s/f brick building consists of three addresses and tax lots. Given the strength of the relationship with the lender, CSG-NY was able to arrange favorable and long term financing specifically catered to the principal of the warehouse. CSG-NY has also advised and financed a mixed-use property located at 248 East 30th St. in the Kips Bay section of Manhattan. CSG-NY's Russell Nova, senior vice president, arranged the $2.2 million in financing on behalf of the borrower to refinance of the property. The loan term featured a fiveyear SWAP and 25 -year amortization with a rate of 3.97%. The borrower is a real estate investor who owns seven properties in N.Y.C. and is gradually investing in the area. For the past eight years, CSG-NY has facilitated commercial mortgage and capital financing transactions as large as $100 million. In today's credit environment each lender is different. Engaging the wrong lender is often costly and time-consuming. With an ever growing number of funding relationships across the credit and capital markets, our commercial financing advisory team positions each buyer with the right lender best suited to that buyer's specific scenario, assuring a timely, cost effective, and successful transaction in 30-45 days.