GTJ REIT's 23-85 87th LLC Secures $113.5M Refinance Loan In Queens

The industrial properties in Jackson Heights, Queens and East New York, Brooklyn, including buildings at 23-25 87th Street, have a total square footage of 83,270 and a building square footage of 807,680. GTJ REIT, represented by Paul Cooper, secured a refinance loan amounting to $113,500,000 from Blackstone Group and American International Group (AIG).

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $113,500,000
• Address: 23-25 87th Street
• Market: Jackson Heights, Queens
• Lender: Kevin Pivnick - Blackstone Group & American International Group (AIG)
• Landlord: Paul Cooper - GTJ REIT

The refinance loan was facilitated by American General Life Insurance Company on behalf of GTJ REIT through GWL 23-85 87th LLC. Paul Cooper from GTJ REIT and Kevin Pivnick from Blackstone Group were integral in finalizing this significant transaction.