Lightstone Capital Markets Provides $13.4M Loan For Development Site In Jamaica, Queens

An interest-only loan in the amount of $13,400,000 was secured for a development site located at 89-25 162nd Street and 89-26 162nd Street in Jamaica, Queens. The property has a buildable square footage of 237,000 and is owned by Andrew Wu. The loan was provided by Lightstone Capital Markets.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $13,400,000
• Address: 89-25 162nd Street, 89-26 162nd Street
• Market: Jamaica, Queens
• Buildable Square Footage: 237,000
• Lender: Lightstone Capital Markets
• Landlord: Andrew Wu

The deal was facilitated by brokers Preston Flammang, Jessica Ke, Anthony D’Amelio, and Stephen Preuss.