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Camber Property Group Secures $88.3M Construction Loan For Far Rockaway Development Site

13-16 Beach Channel Drive
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This Development Site property located in NY received a loan of $88,343,567 over 1 year ago.

A development site located at 13-16 Beach Channel Drive in Far Rockaway, Queens has been involved in a closed property transaction. The property, owned by Camber Property Group and represented by Rick Gropper, has secured a construction loan from citibank''>Citibank. The loan amount for this transaction is $88,343,567.

Summary of transaction details:

  • Property Type: Development site
  • Transaction Amount: $88,343,567
  • Lender: Citibank - Richard Gerwitz
  • Landlord: Camber Property Group - Rick Gropper
  • Address: 13-16 Beach Channel Drive, Far Rockaway, Queens
  • Market: Far Rockaway, Queens

Rick Gropper, representing Camber Property Group, facilitated the transaction as the landlord. Richard Gerwitz from Citibank served as the lender.

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Deals
  • Location
    13-16 Beach Channel Drive, Queens, New York 11691, United States13-16 Beach Channel Drive, Queens, New York 11691, United States
  • Loan Value
    $88,343,567$88,343,567
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    1 Lender1 Lender

Citibank

Citibank

Lender
Deals59
Volume$ 486.9B

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Deal Summary

LOAN IMAGE: Rick Gropper DATE: 08/01/2022 ADDRESS: 13-16 Beach Channel Drive MARKET: Far Rockaway, Queens ASSET TYPE: Development site LENDER: Citibank (@Citibank) - Richard Gerwitz LANDLORD: Camber Property Group - Rick Gropper LOAN AMOUNT: $88,343,567 LOAN TYPE: Construction

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