Steven Hurwitz Secures $45.6 Million Construction Loan From Ponce Bank For 32-20 38th Avenue

The property involved in this transaction is a development site located at 32-20 38th Avenue in Long Island City. The site has a building square footage of 77,359 BSF and encompasses 11,155 square feet. The loan amount secured for this development site is $45,600,000, classified as a construction loan with a term of 24 months.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $45,600,000
• Address: 32-20 38th Avenue
• Market: Long Island City
• Lender: Ponce Bank
• Loan Originator: Douglas Romero & Ioannis “Yanni” Kouzilos - Ponce Bank
• Borrower: Steven Hurwitz
• Broker: Shloime Goldstein - Skyline Capital
• Loan Type: Construction
• Loan Terms: 24 Months

The key individuals involved in this transaction include the borrower Steven Hurwitz and the representatives from Ponce Bank, Douglas Romero and Ioannis “Yanni” Kouzilos, who facilitated the loan. The broker representing this deal is Shloime Goldstein from Skyline Capital, who played a crucial role in the transaction.