Camber Property Group Secures $88.3M Construction Loan For Far Rockaway Development Site

A development site located at 13-16 Beach Channel Drive in Far Rockaway, Queens has been involved in a closed property transaction. The property, owned by Camber Property Group and represented by Rick Gropper, has secured a construction loan from citibank''>Citibank. The loan amount for this transaction is $88,343,567.

Summary of transaction details:

• Property Type: Development site
• Transaction Amount: $88,343,567
• Lender: Citibank - Richard Gerwitz
• Landlord: Camber Property Group - Rick Gropper
• Address: 13-16 Beach Channel Drive, Far Rockaway, Queens
• Market: Far Rockaway, Queens

Rick Gropper, representing Camber Property Group, facilitated the transaction as the landlord. Richard Gerwitz from Citibank served as the lender.