360 Capital Funding Provides $23.5M Construction Loan For Development Site In Long Island City

A construction loan of $23,500,000 was secured for a development site located at 10-04 Borden Avenue in Long Island City. The lender for this transaction is 360 Capital Funding, represented by Andrew Waldman. The landlord, Vorea, is represented by Peter Papamichael. Marko Kazanjian and Max Herzog of JLL served as the brokers in this deal.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $23,500,000
• Lender: 360 Capital Funding - Andrew Waldman
• Landlord: Vorea - Peter Papamichael
• Brokers: Marko Kazanjian & Max Herzog - JLL

The construction loan secured for this development site in Long Island City marks a significant step in the project's financing. The involvement of 360 Capital Funding as the lender, represented by Andrew Waldman, underlines the confidence in the site's potential. With Vorea as the landlord, represented by Peter Papamichael, and the expert guidance of Marko Kazanjian and Max Herzog from JLL as the brokers, this deal brings together key individuals and companies to facilitate the development of the site.