Kew Gardens Hills co-op Georgetown Mews refis with $15M from John Hancock Life

THe Georgetown Mews cooperative through the entity Georgetown Mews Owners Corp. as borrower signed a loan agreement with lender John Hancock Life Insurance Company valued at $15 million for 4 parcels, including the tax class cooperative (C6) and containing 930 residential units at 152-32 Melbourne Avenue, 150-10 Melbourne Avenue, 149-24 Melbourne Avenue, and 70-04 Kissena Boulevard in Kew Gardens Hills. The deal closed on November 24, 2020 and was recorded on December 4, 2020.
The property contains a total of 199,464 square feet of built space. The property has 836,268 square feet of available development rights.
The average loan per unit is $16,129.
The last time the property sold was November 7, 2014 for $210,000.

Over the past five years, there have been 8 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $909,711.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA.
The signatory for the buyer or lender was Kimberly R. Highfield

Share this article