Cornachio and Shin Close on $48 Million Mortgage Refinance
September 6, 2017 | William Cornachio |William Cornachio and Jenny Shin closed another loan for client, The We’re Group. This transaction was a $48 million refinancing of the mortgage on 300 Jericho Quadrangle, and Hartford Life Insurance Company was the lender. Two years ago in August 2015, Mr. Cornachio assisted the ownership in obtaining financial assistance from the Nassau County Industrial Development Agency for the developer’s renovations and construction of improvements to the building, and the payment in lieu of taxes (PILOT) program that was put in place at that time was instrumental in enabling the client to attract Publishers Clearing House as a major tenant at the property, and to retain Darby Dental Supply and Allstate Insurance as the other two large occupants.
