Comjem Associates borrows $17M from Signature Bank for property in Jackson Heights

Jack Cohen’s Comjem Associates through the entity 78-14 Roosevelt LLC as borrower signed a loan agreement with lender Signature Bank valued at $16.8 million for 1 parcel, including the tax class commercial condominium unit (R5) at 78-14 Roosevelt Avenue in Queens. The deal closed on April 6, 2020 and was recorded on April 22, 2020.
The property contains a total of 50,520 square feet of built space.
The average loan per buildable square foot is $332.
The prior debt was $13.6 million from New York Community Bank.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on July 5, 2016.

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