David Lubianitsky signs $58.5M refi loan with Bank of Hope for rental in Astoria

David Lubianitsky through the entity 12-15 Broadway Astoria, LLC as borrower signed a refi loan with lender Bank of Hope valued at $58.5 million for the 214-unit rental (D1) at 12-15 Broadway in Astoria, Queens.
The deal closed on July 30, 2021 and was recorded on August 12, 2021.
The property has 144,303 square feet of built space and 15,600 square feet of additional air rights for a total buildable of 160,000 square feet according to PincusCo analysis of city data. The loan price per built square foot is $405 and the price per buildable square foot is $365 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on 15-Nov-14, for $88.5 million.
The signatory for David Lubianitsky was David Lubianitsky.
(402601859)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 214 residential units on January 13, 2014. (402601859) Plans for a 214-unit, 144,303 square-foot J-2 were filed on June 15, 2007 and were permitted on August 19, 2011.
There was a condominium project filed with the address 12-15 Broadway and the name East River Condominium (the) on June 13, 2019. The principals of the sponsor, 12-15 Broadway Astoria, Llc, was David Lubinitsky. link
The owners according to the Department of Housing Preservation and Development includes David Lubinitsky, head officer and Genadiy Portnoy, site manager. The business entity is 12-15 Broadway Astoria, Llc.

Within a 400-foot radius of 12-15 Broadway, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a sale which Damien Smith bought the 14,800-square-foot, two-unit industrial (G1) on 11-01 Broadway for $7.0 million from Chryssanthi Ventouratos on March 16, 2021.

Direct link to Acris document. link