Edward Blumenfeld Of Blumenfeld Development Group Refinances Jackson Heights Retail Property For $40M With U.S. Bank

The asset involved in this transaction is a retail property located at 71-01 25th Avenue in Jackson Heights, Queens. It has been refinanced for a loan amount of $40,000,000, replacing a previous loan of $22,500,000 from NYS Common Retirement Fund.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $40,000,000
• Lender: U.S. Bank
• Landlord: Edward Blumenfeld - Blumenfeld Development Group
• Previous Loan Amount: $22,500,000
• Market: Jackson Heights, Queens
• Loan Type: Refinance

The refinancing deal was arranged by U.S. Bank on behalf of Edward Blumenfeld, who is associated with Blumenfeld Development Group. This transaction reflects a strategic financial movement for the landlord, optimizing their existing financing structure.