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Zara Realty Secures $83M Construction Loan For Multifamily Property In Jamaica

153-10 88th Avenue
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This MultiFamily property located in NY received a loan of $83,000,000 over 2 years ago. The brokers of the deal were Peter (Pete) Rotchford and Christopher (Chris) Peck

Located at 153-10 88th Avenue in Jamaica, this multifamily property spans approximately 218,000 square feet and comprises 223 units. The transaction took place on 10/08/2021.

Summary of transaction details

Christopher Peck and Peter Rotchford from the agency represented the buyer and seller in this transaction. Emigrant Bank and Arbor Realty Trust served as the lenders for the construction loan provided for this property.

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Deals
  • Location
    153-10 88th Avenue, Jamaica, NY 11432, USA153-10 88th Avenue, Jamaica, NY 11432, USA
  • Loan Value
    $83,000,000$83,000,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency, 1 Lender2 Brokers, 1 Agency, 1 Lender

Agents

Peter (Pete) Rotchford

Peter (Pete) Rotchford

Deals26
Financed$2.4B

Christopher (Chris) Peck

Christopher (Chris) Peck

Deals36
Financed$5.7B

Agency

JLL

JLL

Agency
Deals5584
Volume$332.6B

Emigrant Bank

Emigrant Bank

Lender
Deals4
Volume$ 14.2B

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Deal Summary

LOAN IMAGE: Christopher Peck & Peter Rotchford DATE: 10/08/2021 ADDRESS: 153-10 88th Avenue MARKET: Jamaica ASSET TYPE: Multifamily ~ SF: 218,000 ~ UNITS: 223 LENDER: Emigrant Bank & @ArborRealtyTrust LANDLORD: Zara Realty BROKERS: Christopher Peck & Peter Rotchford - @JLL LOAN AMOUNT: $83,000,000 LOAN TYPE: Construction Loan

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153-10 88th Avenue

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