Zev Mayer's 6014 B LLC Secures $39.6M Construction Loan From Popular Bank In Arverne Queens
60-14 Beach Channel Drive
$39,600,000
Building Size
—
Asset Type
Development Site
Closing
Mar 26, 2026
AI
Zev Mayer’s 6014 B LLC has secured a new construction loan from Popular Bank for a development site located at 60-14 Beach Channel Drive in Arverne, Queens. The asset encompasses a total floor area of 74,849 square feet and is intended for a residential project consisting of 101 units.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $39,600,000
- Loan Type: Construction
- Lender: Popular Bank
- Landlord: Zev Mayer
- Market: Arverne, Queens
- Asset Size: 65,878 BSF
In this transaction, Zev Mayer represents his entity, 6014 B LLC, in securing the necessary funding from Popular Bank to advance the residential development project at the specified address.
Players
Arverne Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93