Barone Management signs $17M refi with Metropolitan Commercial for new LIC office building

Barone Management through the entity Dmfyd LIC LLC as borrower signed a refi loan with lender Metropolitan Commercial Bank valued at $17 million for the office building (O5) at 9-21 44th Road in Long Island City, Queens.
The deal closed on April 21, 2021 and was recorded on May 13, 2021.
The property has 86,360 square feet of built space and 0 square feet of additional air rights for a total buildable of 84,600 square feet according to PincusCo analysis of city data. The loan price per built square foot is $196 per the PincusCo analysis.
The signatory for Barone Management was John Silviano. The signatory for Metropolitan Commercial Bank was Jay Shah and Vivek Baid.
(421533629)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building on March 29, 2021. (421533629) Plans for a 0-unit, 84.599.0 square-foot office building were filed on July 27, 2017.
The signatory for the prior lender WhiteStar was James Bishop.

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