Green Design Construct borrows $12M from First Republic for new construction in LIC

John Senisi’s Green Design Construct through the entity 36-43 31st Street LLC as borrower signed a loan agreement with lender First Republic Bank valued at $11.8 million for 2 parcels, including the tax class one-story store building (K1) and containing 2 residential units at 36-45 31st Street, 36-43 31st Street in Long Island City. The deal closed on December 11, 2019 and was recorded on December 24, 2019.

This is a building loan for new construction. The last time the property sold was February 1, 2019, when Senisi bought it for $6,314,000.

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 34,376 square feet. Those plans include a total of 40 residential or hotel 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