Genovese Family Enterprises Refinances Mixed-Use Building In Astoria With $7.5 Million From Maspeth Federal Savings

Genovese Family Enterprises refinanced a mixed-use retail building located at 30-97 Steinway Street in Astoria, Queens. The asset encompasses a total square footage of 27,112 and was secured with a loan amount of $7,500,000, which replaced a prior debt of $11.1 million from M&T Bank.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $7,500,000
• Lender: Maspeth Federal Savings
• Landlord: Genovese Family Enterprises
• Loan Type: Refinance
• Prior Debt: $11.1 million from M&T Bank

The refinancing deal involved key parties including Maspeth Federal Savings as the lender and Genovese Family Enterprises representing the landlord. This transaction illustrates their strategic financial management in asset restructuring.