Signature Bank Provides $20M Refinance Loan For Mixed-Use Property In Long Island City

Signature Bank has provided a $20,000,000 loan to refinance a mixed-use property in Urban Yard, Long Island City. The property has a total square footage of 285,000. The loan terms include an interest rate of 4.75% and a full term interest-only payment structure.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $20,000,000
• Market: Urban Yard, Long Island City
• Square Footage: 285,000

In this transaction, Signature Bank acted as the lender, with Jesse Punn and Joe Fingerman representing the bank. The brokers involved in the deal were Morris Diamant and David Liechtung from the Meridian Capital Group.