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BridgeCity Capital Provides $19.1M Construction Loan For Astoria Development Site

27-16 21st Street
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This Development Site property located in NY received a loan of $19,100,000 almost 2 years ago.

The development site located at 27-16 21st St. in Astoria, Queens has been involved in a recent closed transaction. With a buildable square footage (BSF) of 34,370, this property is a promising opportunity for development.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $19,100,000
  • Market: Astoria, Queens

In this transaction, the loan was provided by BridgeCity Capital. The loan amount of $19,100,000 was secured for the construction of the development site. The loan terms include a 27-month period with extension options, and the loan-to-cost (LTC) ratio is 81%.

BridgeCity Capital, led by Louis Lebovits, Moishe Loketch, Pinny Loketch, and Allan Lebovits, is an active lender for mixed-use, residential, industrial, and construction projects in the Tri-State Area, South Florida, and other states. For more information or to inquire about a loan, visit their website at https://www.bridgecityfunding.com/ or contact Louis at [email protected].

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  • Location
    27-16 21st Street, Queens, New York 11102, United States27-16 21st Street, Queens, New York 11102, United States
  • Loan Value
    $19,100,000$19,100,000
  • Asset Type
    Development SiteDevelopment Site

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Deal Summary

LOAN IMAGE: Moishe Loketch, Louis Lebovits, Allan Lebovits & Pinny Loketch DATE: 06/21/2022 ADDRESS: 27-16 21st St. MARKET: Astoria, Queens ASSET TYPE: Development Site ~ BSF: 34,370 LENDER: BridgeCity Capital - Louis Lebovits, Moishe Loketch, Pinny Loketch & Allan Lebovits LOAN AMOUNT: $19,100,000 LOAN TYPE: Construction LOAN TERMS: 27 months + extension options; LTC 81% NOTE FROM LENDER: BridgeCity Capital is actively financing mixed-use, residential, industrial & construction projects in the Tri-State Area, South Florida & in various other states. Visit us at https://www.bridgecityfunding.com/ or send loan inquires to [email protected]

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