The development site located at 27-16 21st St. in Astoria, Queens has been involved in a recent closed transaction. With a buildable square footage (BSF) of 34,370, this property is a promising opportunity for development.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $19,100,000
• Market: Astoria, Queens

In this transaction, the loan was provided by BridgeCity Capital. The loan amount of $19,100,000 was secured for the construction of the development site. The loan terms include a 27-month period with extension options, and the loan-to-cost (LTC) ratio is 81%.

BridgeCity Capital, led by Louis Lebovits, Moishe Loketch, Pinny Loketch, and Allan Lebovits, is an active lender for mixed-use, residential, industrial, and construction projects in the Tri-State Area, South Florida, and other states. For more information or to inquire about a loan, visit their website at https://www.bridgecityfunding.com/ or contact Louis at [email protected].