Grocer Rockey Ren signs $8.9M acquisition loan with Bank of Hope for two warehouses in Maspeth

Rockey Ren through the entity Ren Empire Realty Inc. as borrower signed an acquisition loan with lender Bank of Hope valued at $8.9 million for two warehouse properties including the industrial (E1) property at 58-97 57th Street in Maspeth, Queens and industrial (G7) at N/A Rust Street in Maspeth, Queens.
The deal closed on May 10, 2021 and was recorded on May 24, 2021.
The two properties have 30,000 square feet of built space and 9,970 square feet of additional air rights for a total buildable of 40,000 square feet according to PincusCo analysis of city data. The loan price per built square foot is $295 and the price per buildable square foot is $221 per the PincusCo analysis.
The signatory for Rockey Ren was Rockey Ren.

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