Charatan Realty borrows $8M from Signature Bank to acquire industrial property in Queens Village

Charatan Realty through the entity 217-44 Realty LLC as borrower signed an acquisition loan agreement with lender Signature Bank valued at $8.3 million for 1 parcel, including the tax class light manufacturing building (F5) at 217-40 98th Avenue in Queens Village, Queens. The deal closed on June 9, 2020 and was recorded on June 11, 2020.
The property contains a total of 66,978 square feet of built space.
The average loan per buildable square foot is $123.
The prior debt on the building was $1.1 million provided by Citibank to the previous owner.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link