Barry J. Leon obtained financing of $10M from Popular Bank

Barry J. Leon through the entity 25-16 37 Ave Owners LLC as borrower signed a loan agreement with lender Popular Bank valued at $9.5 million for 2 parcels, including the tax class miscellaneous garage (G9) at 25-12 37 Avenue, 25-16 37 Avenue in Long Island City. The deal closed on June 27, 2019 and was recorded on July 22, 2019.
The property contains a total of 35,463 square feet of built space. The property has 35,463 square feet of available development rights.
The average loan per buildable square foot is $269.
The last time the property sold was March 17, 2016, for $2,200,000.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Share this article