Hafeez Choudhary obtained financing of $50M from GreenLake Asset Management

Hafeez Choudhary through the entity Queens Plaza South LLC as borrower signed a loan agreement with lender GreenLake Asset Management through the entity Greenlake Real Estate Fund LLC valued at $49.5 million for 1 parcel, including the tax class land not zoned residential or Manhattan below 110th Street (V1) at 52-16 34th Street in Long Island City. The deal closed on August 30, 2019 and was recorded on September 11, 2019.
The property contains a total of 104,875 square feet of built space. The property has 101,485 square feet of available development rights.
The average loan per buildable square foot is $240.
The last time the property sold was June 4, 2013, for $2,190,000.

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. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $1,275,000. 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

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