Arker Companies Secures $6.3 Million Loan From Customers Bank For Edgemere Mixed-Use Property

5125 Beach Channel Drive & 302 Beach 53rd Street is a mixed-use property located in Edgemere, Queens, encompassing a total square footage of 49,014. The property was refinanced through a loan transaction amounting to $6.3 million.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $6.3 million
• Asset Address: 5125 Beach Channel Drive & 302 Beach 53rd Street
• Market: Edgemere, Queens
• Lender: Customers Bank
• Landlords: Allan Arker, Alex Arker & Daniel Moritz - Arker Companies

Arker Companies, represented by Allan Arker, Alex Arker & Daniel Moritz, executed a refinancing of three commercial condominium units situated at the base of the mixed-use building. This move replaced the previous mortgage of $6.4 million held by Wells Fargo.