90 Queens Inc. obtained financing of $7M from ConnectOne Bank

90 Queens Inc. as borrower signed a loan agreement with lender ConnectOne Bank valued at $6.7 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) at 90-19 Corona Avenue in Elmhurst. The deal closed on August 02, 2019 and was recorded on August 14, 2019.
The property contains a total of 91,876 square feet of built space. The property has 91,876 square feet of available development rights.
The average loan per buildable square foot is $72.
The last time the property sold was November 30, 2009, for $5,800,000.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 79,165 square feet. Those plans include a total of 80 residential or hotel units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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