Valley Bank, BHI & Be-Aviv Provide $78M Construction Loan For Mixed-Use Property On Queens Boulevard

An investment property located at 98-81 Queens Boulevard in New York City was involved in a recent loan transaction. The property is a mixed-use building, consisting of both residential and retail space, spanning a total of 215,443 square feet. It comprises 170 units and is situated in a vibrant market.

Summary of transaction details

• Property Type: Mixed-Use (Residential & Retail)
• Loan Amount: $78,000,000
• Lender: Valley Bank, BHI, and Be-Aviv
• Landlord: RJ Capital
• Brokers: Morris Betesh, Eli Serebrowski, and Alex Bailkin - Meridian Capital Group

The loan obtained for this transaction amounted to $78,000,000 and was specifically for construction purposes. The lenders involved in providing the loan were Valley Bank, BHI, and Be-Aviv. RJ Capital serves as the landlord for this property. The deal was facilitated by the brokers Morris Betesh, Eli Serebrowski, and Alex Bailkin from the Meridian Capital Group.