Northridge Cooperative Secures $25M Refinance Loan For MultiFamily Building In Jackson Heights, Queens

The Northridge Cooperative, represented by Northridge Cooperative Section No. III, Inc., secured a refi loan worth $25 million from Wells Fargo for their 394-unit residential elevator building at 32-20 89th Street in Jackson Heights, Queens. The property is a MultiFamily asset with a building square footage (BSF) of 475,139 and a total square footage (SF) of 399,204. The building consists of 394 residential units.

Summary of transaction details

• Property Type: MultiFamily
• Transaction Amount: $25,000,000
• Address: 32-20 89th Street, Jackson Heights, Queens
• Lender: Wells Fargo - Christian Adrian
• Landlord: Northridge Cooperative - Carmen E. Moreno

Northridge Cooperative Section No. III, Inc. represented the Northridge Cooperative in securing this refi loan from Wells Fargo. Christian Adrian from Wells Fargo served as the lender for this transaction. Carmen E. Moreno represented the Northridge Cooperative as the landlord. The loan was secured on June 30, 2023.