Werwaiss Properties Secures $110M Construction Loan For Long Island City Multifamily

The multifamily property located at 23-10 42nd Road in Long Island City has recently undergone a closed transaction. With a size of 236,000 square feet, it is an impressive asset in the market. The property was acquired by Werwaiss Properties, who acted as the landlord in this transaction. The financing for this deal was secured through a construction loan provided by PCCP and Corebridge for a total amount of $110,000,000.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $110,000,000
• Lender: PCCP & Corebridge
• Landlord: Werwaiss Properties
• Brokers: Adam Schwartz, Keith Kurland, Jonathan Schwartz, Aaron Appel & Michael Diaz - Walker & Dunlop

The brokers at Walker & Dunlop, namely Adam Schwartz, Keith Kurland, Jonathan Schwartz, Aaron Appel, and Michael Diaz, played a crucial role in facilitating this deal. Their expertise and negotiations skills helped to bring the parties together and ensure a successful transaction.