Zara Realty Secures $83M Construction Loan For Multifamily Property In Jamaica

153-10 88th Avenue, Jamaica, NY 11432, USA

$83,000,000

$380/SF

Building Size

218,000 SF

Asset Type

MultiFamily

Closing

Oct 8, 2021

AI

Located at 153-10 88th Avenue in Jamaica, this multifamily property spans approximately 218,000 square feet and comprises 223 units. The transaction took place on 10/08/2021.

Summary of transaction details

Property Type: Multifamily
Transaction Amount: $83,000,000
Address: 153-10 88th Avenue
Market: Jamaica
Loan Type: Construction Loan
Lender: Emigrant Bank & Arbor Realty Trust
Landlord: Zara Realty
Brokers: Christopher Peck & Peter Rotchford LL

Christopher Peck and Peter Rotchford from the agency represented the buyer and seller in this transaction. Emigrant Bank and Arbor Realty Trust served as the lenders for the construction loan provided for this property.

Players