A&R Properties signs $24.5M construction loan with Valley National Bank for 94-unit project in Flushing
157-01 72nd Avenue (Credit: Google)
A&R Properties Group through the entity 157-01 72nd Avenue LLC as borrower signed a new construction loan with lender Valley National Bank valued at $24.5 million for the development site (V1) at 157-01 72nd Avenue in Flushing, Queens.
The deal closed on June 16, 2021 and was recorded on September 23, 2021.
(421133794) Plans for a 94-unit, 74,405 square-foot R-2 were filed on January 27, 2021 and were permitted on August 30, 2021.
The owner bought the property on December 3, 2013, for $3.3 million.
The signatory for A&R Properties Group was Noorollah Asherian.
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