Related Companies Secures $430.8M Loan From NYC Housing Development Corp. For Willets Point Development

Related Companies, through the entity Willets Point Phase I Housing Development Fund, has secured a $430.8 million construction loan from NYC Housing Development Corporation for a three-parcel development site at 126-20 Willets Point Boulevard in Willets Point, Queens. The development site is a development site with a total buildable square footage of 521,402 square feet. The address of the property is 126-20 Willets Point Boulevard in Willets Point, Queens. The loan amount for this transaction is $430,800,000. The loan type is construction loan. The lender involved in this deal is NYC Housing Development Corporation and the landlord is Frank Monterisi - Related Companies.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $430,800,000
• Buildable Square Footage: 521,402 sq ft
• Address: 126-20 Willets Point Boulevard, Willets Point, Queens
• Lender: NYC Housing Development Corporation
• Landlord: Frank Monterisi - Related Companies

The lender, NYC Housing Development Corporation, has provided a construction loan of $430.8 million to Related Companies for the development site at 126-20 Willets Point Boulevard. The loan will support the construction of the three-parcel development site in Willets Point, Queens. The landlord in this transaction is Frank Monterisi, representing Related Companies.