9TH STREET LIC LLC obtained financing of $22.0M from GOLDMAN SACHS

9TH STREET LIC LLC as borrower signed a loan agreement with lender GOLDMAN SACHS BANK USA valued at $22,000,000 for 2 parcels, including the tax class miscellaneous garage (G9) at 38-37 9 Street, 38-21 9 Street in Long Island City. The deal closed on June 28, 2019 and was recorded on July 05, 2019.
The property contains a total of 295,925 square feet of built space. The property has 129,265 square feet of available development rights.
The average loan per buildable square foot is $74.
The last time the property sold was June 08, 2018, for $10,150,000.
Over the past five years, there have been 8 NYC Department of Buildings permit applications filed for this parcel. Of those There was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $150,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $21,600.During that same period, there have been 5 new building permit applications totaling 133,399 square feet. Those plans include a total of 405 residential or hotel units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. https://a836-acris.nyc.gov/bblsearch/bblsearch.asp?borough=4&block=00475&lot=0019
Direct link to the city’s interactive property map, ZOLA. https://zola.planning.nyc.gov/lot/4/475/19

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