New York Community Bank Provides $13M Acquisition Loan For Long Island City Industrial Property

An industrial property located at 38-09 43rd Ave in Long Island City has recently been involved in a closed transaction. The property, situated in the Long Island City market, was acquired through an acquisition loan.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $13,000,000
• Address: 38-09 43rd Ave
• Market: Long Island City

The loan for the acquisition of this industrial property was provided by New York Community Bank. The loan amount totaled $13,000,000, representing 65% of the $20,000,000 purchase price (LTPP). The brokers involved in the deal were David Oheb and Max Jacobson from Meridian Capital Group.