Broadway Stages refis $25M with Investors Bank for warehouse space in Queens

Broadway Stages through the entity Cooper 8200 Realty LLC as borrower signed a loan agreement with lender Investors Bank valued at $25.0 million for 2 parcels, including the tax class miscellaneous warehouse (E9) at 81-80 Cooper Avenue and 83-02 Doran Avenue in Middle Village. The deal closed on December 15, 2020 and was recorded on April 20, 2021.
The property contains a total of 183,535 square feet of built space. The property has 184,915 square feet of available development rights.
The average loan per buildable square foot is $135.
The last time the property sold was November 19, 2014 for $19,500,000.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $5,635,000.0. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $1,561,900.

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