Broadway Stages borrows $15M from Investors Bank to purchase warehouse property in Middle Village

Broadway Stages through the entity Cooper 83rd Street Terminals LLC as borrower signed a loan agreement with lender Investors Bank valued at $14.7 million for 6 parcels, including the tax class fireproof warehouse (E1) at 70-29 83rd Street, 70-25 83rd Street, 70-17 83rd Street, 83-14 Cooper Avenue, 84 Street, and others in Middle Village. The deal closed on May 15, 2020 and was recorded on June 4, 2020.
The property has 93,475 square feet of built and available development rights.
The average loan per buildable square foot is $157.

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