HI-TECH 5920 LLC obtained financing of $6M from EMPIRE STATE CERTIFIED DEVELOPMENT

HI-TECH 5920 LLC as borrower signed a loan agreement with lender EMPIRE STATE CERTIFIED DEVELOPMENT CORPORATION valued at $5.9 million for 2 parcels, including the tax class heavy manufacturing, fireproof building (F1) at 59-20 56 Avenue in Maspeth. The deal closed on July 01, 2019 and was recorded on July 11, 2019.
The property contains a total of 40,022 square feet of built space. The property has 3,622 square feet of available development rights.
The average loan per buildable square foot is $67.
The last time the property sold was July 18, 2008, for $1,734,700.

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