Bawa Mallick signs $57.7M in refis with JPMorgan Chase for rental in Queens

Bawa Mallick signed five loans totaling $57.7 million with JPMorgan Chase for rentals in Queens.

In the first, Bawa Mallick through the entity Sm Realty LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $18.5 million for the 200-unit rental (D1) at 89-38 164th Street in Jamaica, Queens.
The deal closed on June 24, 2021 and was recorded on July 2, 2021.
The property has 135,643 square feet of built space and 55,390 square feet of additional air rights for a total buildable of 191,000 square feet according to PincusCo analysis of city data. The loan price per built square foot is $136 and the price per buildable square foot is $96 per the PincusCo analysis.

The owners according to the Department of Housing Preservation and Development includes Bawa Mallick, head officer and Maria Rojas, site manager. The business entity is Sm Realty Llc.
Within a 400-foot radius of 89-38 164th Street, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, one was for major renovation including a certificate of occupancy change. It was an initial temporary certificate of occupancy issued on April 8, 2020 for the $353,210.0 renovation of 3,211-square-foot R-3 building with two residential units at 89-14 163rd St.
One of those two items was a loan which Anthony Simari borrowed $5.9 million from Apple Bank For Savings secured by the 156,240-square-foot, 162-unit rental (D1) on 88-35 164th Street on March 25, 2020.

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In the second, Bawa Mallick through the entity Bayswater Gardens LLC as borrower signed a refi loan with lender JPMorgan Chase through the entity Jpmorgan Chase Bank, N.A. valued at $13.1 million for the 126-unit rental (C1) at 23-34 Mott Avenue in Far Rockaway, Queens.
The deal closed on June 24, 2021 and was recorded on July 2, 2021.
The property has 104,463 square feet of built space and 47,170 square feet of additional air rights for a total buildable of 151,187 square feet according to PincusCo analysis of city data. The loan price per built square foot is $125 and the price per buildable square foot is $86 per the PincusCo analysis.

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.
The owners according to the Department of Housing Preservation and Development includes Bawa Mallick, head officer and Maria Rojas, agent. The business entities are Indus Realty Corp and Bayswater Gardens Llc.
FALSE

Direct link to Acris document. link

In the third, Bawa Mallick through the entity Jpmorgan Chase Bank, N.A. as borrower signed a refi loan with lender JPMorgan Chase through the entity 25 Hampton LLC valued at $9.3 million for the 77-unit rental (D1) at 42-25 Hampton Street in Elmhurst, Queens.
The deal closed on June 24, 2021 and was recorded on July 2, 2021.
The property has 73,100 square feet of built space and 0 square feet of additional air rights for a total buildable of 52,500 square feet according to PincusCo analysis of city data. The loan price per built square foot is $127 per the PincusCo analysis.
The owner bought the property on 21-Feb-12, for $10.0 million.

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.

The owners according to the Department of Housing Preservation and Development includes Bawa Mallick, head officer and Maria Rojas, site manager. The business entity is 25 Hampton Llc.
Within a 400-foot radius of 42-25 Hampton Street, Pincusco identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Rey J. Nieto borrowed $6.7 million from New York Community Bank secured by the 31,508-square-foot, 42-unit rental (D1) on 89-33 Whitney Avenue on May 20, 2021.

Direct link to Acris document. link

In the fourth, Bawa Mallick through the entity 42 Indus LLC as borrower signed a refi loan with lender JPMorgan Chase through the entity Jpmorgan Chase Bank, N.A valued at $9.2 million for the 78-unit rental (D1) at 168-42 88th Avenue in Jamaica, Queens.
The deal closed on June 24, 2021 and was recorded on July 2, 2021.
The property has 50,976 square feet of built space and 0 square feet of additional air rights for a total buildable of 47,250 square feet according to PincusCo analysis of city data. The loan price per built square foot is $181 per the PincusCo analysis.

The owners according to the Department of Housing Preservation and Development includes Bawa Mallick, head officer and Maria Rojas, site manager. The business entity is 42 Indus Llc.
Within a 400-foot radius of 168-42 88th Avenue, Pincusco identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, one was in new building development. It was a new building permit issued on November 29, 2019 for a 11,469-square-foot R-2 building with 10 residential units residential units at 87-83 168th Street.
One of those two items was a loan which Bawa Nand Mallick borrowed $9.2 million from JPMorgan Chase secured by the 50,976-square-foot, 79-unit rental (D1) on 168-36 88th Avenue on July 1, 2021.

Direct link to Acris document. link

In the fifth, Bawa Mallick through the entity 88-44 Holding LLC as borrower signed a refi loan with lender JPMorgan Chase through the entity Jpmorgan Chase Bank, N.A. valued at $7.7 million for the 72-unit rental (D1) at 88-44 161st Street in Jamaica, Queens.
The deal closed on June 24, 2021 and was recorded on July 2, 2021.
The property has 95,915 square feet of built space and 0 square feet of additional air rights for a total buildable of 91,600 square feet according to PincusCo analysis of city data. The loan price per built square foot is $79 per the PincusCo analysis.
The owner bought the property on 28-Jan-04, for $4.5 million.

The owners according to the Department of Housing Preservation and Development includes Bawa Mallick, head officer and Maria Rojas, site manager. The business entity is 88-44 Holding Llc.
Within a 400-foot radius of 88-44 161st Street, Pincusco identified one commercial real estate item of interests occurred over the past 24 months.
It was a new building permit issued on January 28, 2020 for a 30,990-square-foot R-2 building with 70 residential units residential units at 161-01 89th Avenue.

Direct link to Acris document. link