Metropolitan Bank Provides $5.65M Loan For Astoria Ground Leased Development Site

31-61 Vernon Blvd, Astoria, NY 11106, USA

$5,650,000

$62/SF

Building Size

90,906 SF

Asset Type

Development Site

Closing

May 13, 2020

AI

A fee position ground leased development site in Astoria has been closed for a transaction worth $5,650,000*. The property, located at 31-61 Vernon Boulevard, 1111 Broadway, and 1124 31st Drive, encompasses a total square footage of 90,906. Metropolitan Bank provided the loan for this deal. The landlord of the property is the Fiorentinos Family, specifically Antonios and Nick Fiorentinos. The brokers involved in this transaction were David Oheb, Sarah Kuebler, and Matt Barnett.

Summary of transaction details

Property Type: Fee Position - Ground Leased Development Site
Transaction Amount: $5,650,000*
Market: Astoria
Address: 31-61 Vernon Boulevard, 1111 Broadway, 1124 31st Drive
Loan Amount: $5,650,000*
BSF: 90,906
Lender: Metropolitan Bank
Landlord: Fiorentinos Family - Antonios & Nick Fiorentinos
Brokers: David Oheb, Sarah Kuebler, Matt Barnett

The individuals responsible for navigating this successful deal were David Oheb, Sarah Kuebler, and Matt Barnett. They represented their respective agencies in this transaction.

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