George Xu Secures $10.8 Million Refinance Loan From ICross Capital For Development Site In Long Island City

The property asset involved in this transaction is located at 45-28 21st Street in Long Island City, featuring a development site with a buildable square footage (BSF) of 54,000 and a total square footage (SF) of 18,000. The loan amount associated with this property transaction is $10,800,000, and it falls under the category of refinance.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $10,800,000
• Address: 45-28 21st Street
• Market: Long Island City
• Buildable Square Footage: 54,000
• Total Square Footage: 18,000
• Lender: iCross Capital
• Landlord: George Xu
• Broker: Morris Betesh - Arrow Real Estate Advisors
• Loan Type: Refinance

This transaction features key individuals and companies, including Lender iCross Capital and Landlord George Xu. Broker Morris Betesh from Arrow Real Estate Advisors represents the landlord in this refinance deal, emphasizing the collaborative effort to secure funding for the development site.