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Lightstone Capital Markets Provides $13.4M Loan For Development Site In Jamaica, Queens

89-25 162nd Street, 89-26 162nd Street
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This Development Site property located in NY received a loan of $13,400,000 about 5 years ago. The brokers of the deal were Anthony D'amelio, Stephen R. Preuss Sr., Preston Flammang, and Jessica Ke

An interest-only loan in the amount of $13,400,000 was secured for a development site located at 89-25 162nd Street and 89-26 162nd Street in Jamaica, Queens. The property has a buildable square footage of 237,000 and is owned by Andrew Wu. The loan was provided by Lightstone Capital Markets.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $13,400,000
  • Address: 89-25 162nd Street, 89-26 162nd Street
  • Market: Jamaica, Queens
  • Buildable Square Footage: 237,000
  • Lender: Lightstone Capital Markets
  • Landlord: Andrew Wu

The deal was facilitated by brokers Preston Flammang, Jessica Ke, Anthony D’Amelio, and Stephen Preuss.

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Deals
  • Location
    89-35 162nd Street, Jamaica, NY 1143289-35 162nd Street, Jamaica, NY 11432
  • Loan Value
    $13,400,000$13,400,000
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    4 Brokers, 3 Agencies, 1 Lender4 Brokers, 3 Agencies, 1 Lender

Agents

Preston Flammang

Preston Flammang

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Financed$72.4M

Jessica Ke

Jessica Ke

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Financed$13.4M

Stephen R. Preuss Sr.

Stephen R. Preuss Sr.

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Financed$1.3B

Agencies

Iron Hound Management Company

Iron Hound Management Company

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Volume$4.5B

Ripco

Ripco

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Deals629
Volume$4.2B

Cushman & Wakefield

Cushman & Wakefield

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Volume$167B

Lightstone Capital

Lightstone Capital

Lender
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Volume$ 8.9B

Social

Deal Summary

LOAN IMAGE: Preston Flammang, @JessicaJKe, Anthony D’Amelio, Stephen Preuss DATE: 02/05/2019 ADDRESS: 89-25 162nd Street, 89-26 162nd St. MARKET: Jamaica, Queens ASSET TYPE: Dev. Site BSF: 237K LENDER: Lightstone Capital Markets LANDLORD: Andrew Wu BROKERS: Preston Flammang, Jessica Ke, Anthony D’Amelio, Stephen Preuss LOAN AMOUNT: $13,400,000 LOAN TERMS: Interest-Only

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89-25 162nd Street, 89-26 162nd Street

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