Lightstone Capital Markets Provides $13.4M Loan For Development Site In Jamaica, Queens | 89-25 162nd Street, 89-26 162nd Street | Lightstone Capital | Preston Flammang, Jessica Ke, Anthony D'amelio, Stephen R. Preuss Sr. | Development Site | Loan

Summary

Loan

NEW YORK

Development Site

237,000 sqft

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.

Players

All
8

Agents
4
Agencies
3
Lenders
1

Stephen R. Preuss Sr.

Vice Chairman

$1.3B Sold

Iron Hound Management Company

Ripco

Cushman & Wakefield

Lightstone Capital

Details

Deal Summary

FINANCED

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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Address89-25 162nd Street, 89-26 162nd Street

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