Abraham Spetner borrows $7.5M from First National Bank of LI for warehouse in Queens

Abraham Spetner through the entity 49-29 30th Place Realty, LLC as borrower signed a loan agreement with lender The First National Bank Of Long Island valued at $7.5 million for 1 parcel, including the tax class fireproof warehouse (E1) at 49-29 30th Place in Queens. The deal closed on September 3, 2020 and was recorded on September 9, 2020.
The property contains a total of 113,626 square feet of built space. The property has 173,449 square feet of available development rights.
The average loan per buildable square foot is $43.

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 was one renovation/alteration project (A2) applied for with a total estimated value of $152,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link