Gary Segal’s Dynamic Star borrows $30M from Churchill Real Estate for property in Long Island City

Gary Segal’s Dynamic Star through the entity AAGS Holdings LLC as borrower signed a loan agreement with lender Churchill Real Estate through the entity Churchill QPS Lender LLC valued at $29.8 million for 1 parcel, including the tax class special construction, fireproof manufacturing building such as for printing plant, etc. (F2) at 23-10 Queens Plaza South in Long Island City. The deal closed on November 20, 2019 and was recorded on November 22, 2019.
The property contains a total of 108,000 square feet of built space. The property has 217,616 square feet of available development rights.
The average loan per buildable square foot is $137.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $8,017,900. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $558,200.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link