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Madison Realty Capital Provides $46M Loan For Development Site At 38-59 11th Street In Long Island City

38-59 11th Street
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This Development Site property located in NY received a loan of $46,000,000 over 4 years ago. The brokers of the deal were Iona Liu and Gary Sefcik

The development site located at 38-59 11th Street in Long Island City has been involved in a closed transaction. The property, with a loan amount of $46,000,000, consists of a development site with a total of 240 units. The transaction was facilitated by brokers Gary Sefcik and Iona Liu from Marcus & Millichap. The lenders in this transaction were Madison Realty Capital, and the landlord involved was Teddy Li.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $46,000,000
  • Address: 38-59 11th Street
  • Market: Long Island City
  • Units: 240
  • Lender: Madison Realty Capital
  • Landlord: Teddy Li
  • Brokers: Gary Sefcik, Iona Liu - Marcus & Millichap

The deal involved Gary Sefcik and Iona Liu from Marcus & Millichap, who brokered the transaction. They played a key role in connecting the buyer and seller and facilitating the negotiation process. This transaction marks another successful deal in Long Island City's real estate market.

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Deals
  • Location
    3859 11th St, Long Island City, NY 11101, USA3859 11th St, Long Island City, NY 11101, USA
  • Loan Value
    $46,000,000$46,000,000
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    2 Brokers, 1 Agency, 1 Lender2 Brokers, 1 Agency, 1 Lender

Agents

Iona Liu

Iona Liu

Deals1
Financed$46M

Gary Sefcik

Gary Sefcik

Deals4
Financed$169.8M

Agency

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

Madison Reality Capital

Madison Reality Capital

Lender
Deals75
Volume$ 277.8B

Deal Summary

IMAGE: Gary Sefcik, Josh Zegen & Iona Liu DATE: 10/31/2019 ADDRESS: 38-59 11th Street MARKET: Long Island City ASSET TYPE: Development Site LENDER: Madison Realty Capital LANDRLORD: Teddy Li BROKERS: Gary Sefcik, Iona Liu – Marcus & Millichap LOAN AMOUNT: $46,000,000 UNITS: 240

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38-59 11th Street

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