Ripco Brokers $32M Construction Loan For Elmhurst Development Site

The development site located at 78-06 Queens Boulevard in Elmhurst, Queens, was involved in a closed transaction. The asset, a Charter School with a building size of 60,000 square feet, was part of the deal.

Summary of transaction details:

• Property Type: Development Site – Charter School
• Transaction Amount: $32,000,000
• Address: 78-06 Queens Boulevard
• Market: Elmhurst, Queens
• Lender: Low Income Investment Fund (LIIF)
• Landlord: Matt Sprayregen & Zain Koita - Knickpoint Ventures; Andrew Esposito & Chris Karalis - Apex Development
• Brokers: James Murad & Adam Hakim - Ripco
• Loan Type: Construction

The key individuals and companies involved in this transaction include Matt Sprayregen and Zain Koita from Knickpoint Ventures, along with Andrew Esposito and Chris Karalis from Apex Development as the landlords. James Murad and Adam Hakim represented the deal as brokers on behalf of Ripco.