Jeff T. Blau's Related Companies Secures $24M Construction Loan For Long Island City Office Property

Located at 32-02 Queens Blvd in Long Island City, the property involved in this closed transaction is an office building spanning approximately 327,763 square feet. The asset, owned by Related Companies and represented by Jeff T. Blau, showcases the prime real estate market in the area.

Summary of transation details

• Property Type: Office
• Transaction Amount: $24,024,103
• Address: 32-02 Queens Blvd.
• Market: Long Island City
• Landlord: Related Companies
• Landlord's Representative: Jeff T. Blau

In terms of financing, the construction loan for this property was secured from Citizens Bank. The loan type, specified as construction, indicates the purpose of the loan for future development or improvement of the office building. With this transaction, it demonstrates the investment and significant potential in Long Island City's real estate market.