Bethpage Federal Credit Union Provides $105M Refinance Loan For Multifamily Property In Long Island City

The property involved in this transaction is a multifamily building located at 42-20 27th St. in Long Island City. It has a total square footage of 195,000 and consists of 202 units. The market value of this property is not provided.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: Not provided
• Address: 42-20 27th St.
• Market: Long Island City
• Square Footage: 195,000
• Units: 202

The lender for this transaction is Bethpage Federal Credit Union. The landlord is Rabsky Group. The broker involved in this deal is Vault Real Estate Group. The loan amount for this transaction is $105,000,000, and it is a refinance loan.

A note from the broker states that the $105,000,000 loan was syndicated by Lillian Fried from Vault Real Estate Group and Robert Keil from Bethpage Federal Credit Union. Lillian Fried, who has nearly 20 years of experience as a mortgage broker, is known for syndicating large and complex transactions and working with multiple lenders to ensure proper execution. Robert Keil, a Senior Commercial Relationship Manager at Bethpage since 2013, is responsible for the growth and development of the commercial real estate portfolio. He has closed over $1B in loans, and this deal is the largest transaction Bethpage has done since the establishment of the CRE Group. The collaborative efforts of both teams contributed to the smooth execution of this creatively structured deal.