Meyer Chetrit & Joseph Chetrit Secure $80 Million Refinance For Maspeth Industrial Warehouse

The asset involved in this transaction is an industrial property located at 57-18 Flushing Avenue in Maspeth, Queens. The property encompasses a substantial 588,000 square feet and has a secured refinancing loan amount of $80 million.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $80,000,000
• Lender: Maxim Capital Group & SL Green
• Landlord: Meyer Chetrit & Joseph Chetrit - Chetrit Group
• Loan Type: Refinance
• Loan Duration: Three years

The deal features prominent figures from the Chetrit Group, namely Meyer Chetrit and Joseph Chetrit, who navigated various legal and lender disputes to secure this financing arrangement. Their ability to obtain this refinance highlights their strategic approach amid challenges in the market.