Rybak Development Secures $71M Construction Loan For Residential Condos In Forest Hills, Queens | 111-17 78th Avenue | Valley Bank | Aaron Niedermayer, Robert (Bob) Tonnessen | Condo | Loan

Summary

Loan

NEW YORK

Condo

213,009 sqft

The residential condos located at 111-17 78th Avenue in Forest Hills, Queens have been involved in a closed transaction. The property spans approximately 213,009 square feet and comprises a total of 98 units. The asset is owned by Sergey Rybak and Andrei Shavrin of Rybak Development.

Summary of transaction details

Property Type: Residential Condos
Transaction Amount: $71,000,000
Lender: Valley Bank
Landlord: Sergey Rybak & Andrei Shavrin - Rybak Development
Brokers: Robert Tonnessen & Aaron Niedermayer - JLL
Loan Type: Construction

The loan amount for this transaction is $71,000,000 and it has been provided by Valley Bank. The property owner, Sergey Rybak and Andrei Shavrin, are represented by Robert Tonnessen and Aaron Niedermayer from the JLL agency.

Players

All
4

Agents
2
Agencies
1
Lenders
1

Aaron Niedermayer

Senior Managing Director

$133.7M Sold

Robert (Bob) Tonnessen

Director

JLL

Valley Bank

Details

Deal Summary

FINANCED

IMAGE: Robert Tonnessen, Sergey Rybak, Andrew Shavrin & Aaron Niedermayer DATE: 12/18/2023 ADDRESS: 111-17 78th Avenue MARKET: Forest Hills, Queens ASSET TYPE: Residential Condos ~ SF: 213,009 ~ UNITS: 98 LENDER: Valley Bank (@ValleyBank) LANDLORD: Sergey Rybak & Andrew Shavrin - Rybak Development BROKERS: Robert Tonnessen & Aaron Niedermayer - JLL (@JLL) LOAN AMOUNT: $71,000,000 LOAN TYPE: Construction

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Address111-17 78th Avenue

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