Investors Bank Provides $22.7M Construction Loan For Development Site In Astoria

The development site located at 37-24 & 37-28 30th Street in Astoria has been involved in a recent loan transaction. The property spans 23,359 square feet and consists of 32 units. The lender, Investors Bank, provided a construction loan in the amount of $22,700,000 to the landlord, Park Construction Corp.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $22,700,000
• Address: 37-24 & 37-28 30th Street
• Market: Astoria
• Square Footage: 23,359
• Units: 32
• Lender: Investors Bank
• Landlord: Park Construction Corp.

Investors Bank acted as the lender, providing a construction loan to Park Construction Corp. for the development site in Astoria. This loan will support the construction and development of the property, allowing for the creation of the 32 residential units.