Andrew Chung Of Innovo Property Group Secures $169 Million Construction Loan In Long Island City

The asset involved in this transaction is a development site located at 28-90 Review Avenue in Long Island City, Queens. The property encompasses a total built square footage (BSF) of 385,584. A construction loan of $169,000,000 was secured for the development of a logistics building at this address.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $169,000,000
• Market: Long Island City, Queens
• Lender: Deutsche Bank & Axos Bank
• Landlord: Andrew Chung - Innovo Property Group
• Loan Type: Construction

The transaction involves key stakeholders including Deutsche Bank and Axos Bank as the lenders, and Andrew Chung representing Innovo Property Group as the landlord in this construction loan agreement for the development project.