Kriss Capital Provides $31.5M Construction Loan For Mixed-Use Property In Long Island City

Located at 27-09 40th Ave in Dutch Kills, Long Island City, this transaction involved a mixed-use property with a total of 88,000 square feet. The asset type was not specified in the given information. The deal took place on August 25, 2022.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $31,500,000
• Address: 27-09 40th Ave
• Market: Dutch Kills, Long Island City
• Loan Type: Construction
• Lender: Kriss Capital - Jody Kriss & Mark Luehring-Jones
• Landlord: First Elite Management - Gus Vorillas
• Brokers: Dan Israel & Stephen Rodriguez - Big Think Capital

The loan for this transaction was provided by Kriss Capital, represented by Jody Kriss and Mark Luehring-Jones. The landlord in this deal was First Elite Management, whose representative was Gus Vorillas. Dan Israel and Stephen Rodriguez, from Big Think Capital, acted as the brokers in this transaction.

Kriss Capital demonstrated its commitment to lending on high-quality developments despite market hiccups by closing this $31,500,000 construction loan during a tumultuous time in the debt markets.