Moishe Mana's Self Storage Refinances Long Island City Property For $55M

Moishe Mana's entity, Vernon Boulevard Realty, LLC, secured a $55 million refinancing loan from the Bank of New York Mellon for the storage building located at 8-33 40th Avenue in Long Island City, Queens. The property is a self-storage facility with a total square footage of 407,140 and a building square footage (BSF) of 487,495. The asset is situated in the Long Island City market. Summary of transaction details Property Type: Self Storage Transaction Amount: $55,000,000 Address: 8-33 40th Avenue, Long Island City, Queens Market: Long Island City Building Square Footage (BSF): 487,495 Total Square Footage: 407,140 The loan was provided by the Bank of New York Mellon, with Alexandra Chaploutskiy serving as the representative of the lender. Moishe's Self Storage, owned by Moishe Mana, acted as the landlord for the property. The refinancing loan will provide financial stability and support for further development of the storage building.