InSite Property signs $33.8M construction loan with Valley for industrial in Queens

Storage company InSite Property Group through the entity 131-21 14th Ave, LLC as borrower signed a new construction loan with lender Valley National Bank valued at $33.8 million for the industrial (E9) project at 131-21 14th Avenue in Queens, Queens.
The deal closed on June 22, 2021 and was recorded on July 23, 2021.
The property has a total buildable of 73,500 square feet according to PincusCo analysis of city data. The loan price per buildable square foot is $460 per the PincusCo analysis.
The owner bought the property on 19-Jul-21, for $15.2 million.
The signatory for InSite Property Group was Charles A. Brown IV.
(421925475) Plans for a 0-unit, 72,689 square-foot S-1 were filed on March 19, 2019.

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