Charney Companies gets new $21M construction loan for additional LIC dev site

Charney Companies through the entity 10-27 Jackson Property LLC as borrower signed a new construction loan agreement with lender Santander Bank valued at $21 million for 1 parcel, including the tax class miscellaneous warehouse (E9) at 10-27 Jackson Avenue in Long Island City. The deal closed on July 14, 2020 and was recorded on August 14, 2020.

This is a new construction loan.

The Katzen family filed plans for a 50-unit building on the parcel in 2017, but the plans have not been permitted. The Katzen family, including David and Edmund Katzen, has owned the parcel for years, according to available city records, and no property transfers formally adding Charney as a tenant in common, contract vendee or lessee have been recorded.

Charney is developing several projects in the city, including another in Long Island City farther north on Jackson Avenue at 45-03 23rd Street in partnership with Tavros Capital.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 34,810 square feet. Those plans include a total of 50 residential units. 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