Marx Development Group Refinances Two Specialty Residential Properties In Queens And Brooklyn For $76.8M

Two specialty residential properties were refinanced, encompassing a total of 204 units. The addresses include 71-61 159th Street and 636 Louisiana Avenue, located in the Queens and Brooklyn markets. The properties have a combined square footage of 282,608 and were refinanced with a loan amount of $76,800,000.

Summary of transaction details:

• Property Type: Special Purpose
• Transaction Amount: $76,800,000
• Asset Square Footage: 282,608
• Address: 71-61 159th Street & 636 Louisiana Avenue
• Market: Queens & Brooklyn
• Lender: Tel Aviv Stock Exchange
• Landlord: David E. Marx & David Slifkin - Marx Development Group
• Loan Type: Refinance

The refinancing was executed through bondholders from the Tel Aviv Stock Exchange via Mishmeret Trust, highlighting the financial backing behind the transaction. The landlords, David E. Marx and David Slifkin, represent Marx Development Group in this financial agreement.