Alan Monte Getz borrows $18M from TIAA Bank for property in Jamaica

Alan Monte Getz through the entity Courthouse Square Realty Co., L.P. as borrower signed a loan agreement with lender TIAA Bank valued at $17.5 million for 1 parcel, including the tax class office building with commercial with one to six stories (O5) at 89-00 Sutphin Boulevard in Jamaica. The deal closed on September 30, 2019 and was recorded on October 24, 2019.
The property contains a total of 52,186 square feet of built space. The property has 1,476 square feet of available development rights.
The average loan per buildable square foot is $326.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on April 13, 2015.
Over the past five years, there have been 10 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 10 renovation/alteration projects (A2) applied for with a total estimated value of $974,204.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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