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Metropolitan Bank Provides $21.5M Loan For Development Site In Elmhurst

45-20 83rd Street
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This Development Site property located in NY received a loan of $21,500,000 over 3 years ago. The brokers of the deal were Adam Hakim and James Murad

Adam Hakim and James Murad of Meridian Capital Group facilitated a loan transaction for a development site in Elmhurst. The property, located at 45-20 83rd Street, spans a total of 67,286 square feet. The loan amount for this transaction was $21,500,000.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $21,500,000
  • Address: 45-20 83rd Street
  • Market: Elmhurst
  • Lender: Metropolitan Bank
  • Landlord: Scott Barone & John Silviano - Barone Management
  • Brokers: Adam Hakim, James Murad - Meridian Capital Group

Adam Hakim and James Murad from Meridian Capital Group were the brokers representing the parties involved in this loan transaction. The lender for this deal was Metropolitan Bank. The property is owned by Scott Barone and John Silviano of Barone Management. Their representation in this transaction highlights their role as landlords.

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Deals
  • Location
    45-20 83rd Street, Elmhurst, NY, USA45-20 83rd Street, Elmhurst, NY, USA
  • Loan Value
    $21,500,000$21,500,000
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

James Murad

James Murad

Deals40
Financed$2.2B

Agency

Meridian Capital Group

Meridian Capital Group

Agency
Deals2414
Volume$65.9B

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Deal Summary

LOAN IMAGE: Adam Hakim & James Murad DATE: 11/20/2020 ADDRESS: 45-20 83rd Street MARKET: Elmhurst ASSET TYPE: Development Site LENDER: Metropolitan Bank LANDLORD: Scott Barone & John Silviano - Barone Management BROKERS: Adam Hakim, James Murad - Meridian Capital Group LOAN AMOUNT: $21,500,000 SF: 67,286

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45-20 83rd Street

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