G4 Capital Partners Provides $72.5M Construction Loan For Long Island City Development Site

The property involved in the transaction is a development site located at 32-03 39th Avenue in Long Island City. The site covers a built square footage of 131,535 and consists of 41 units. The loan amount secured for this asset is $72,500,000, designated for construction purposes. The lender facilitating this transaction is G4 Capital Partners, while Yitzchok Katz serves as the landlord for the property.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $72,500,000
• Address: 32-03 39th Avenue
• Market: Long Island City
• Asset Type: Development Site
• Built Square Footage: 131,535
• Units: 41
• Loan Type: Construction
• Lender: G4 Capital Partners
• Landlord: Yitzchok Katz

The individuals involved in the loan transaction include Robyn Sorid, Louis Silverman, and Jason Behfarin, representing the interests of the parties involved. Their presence highlights the collaboration of multiple stakeholders in securing this financing arrangement for the development site.