Vaja Group Secures $43.1M Construction Loan From Popular Bank For Jamaica Project

89 25 162nd Street

$43,100,000

Building Size

—

Asset Type

Industrial

Closing

Nov 18, 2025

AI

The asset involved in the transaction is located at 89-25 162nd Street in Jamaica, Queens. This industrial property encompasses a total area of 50,122 square feet and is part of a planned development, which includes 52 units. The project is financed by a construction loan totaling $43,100,000 secured from Popular Bank.

Summary of transaction details:

Property Type: Industrial
Transaction Amount: $43,100,000
Loan Type: Construction
Lender: Popular Bank
Landlord: Moses Freund - Vaja Group

Moses Freund, representing Vaja Group, plays a pivotal role in this transaction as the landlord. The financing of this property replaces a previous debt of $5 million, indicating a significant financial development for the future of this project.

Players