Katz Realty signs $8.5M refi with Capital One for rental in Jackson Heights

Katz Realty Group through the entity Cinderella Realty, LLC as borrower signed a refi loan with lender Capital One valued at $8.5 million for the 122-unit rental (D1) at 34-35 35th Avenue in Jackson Heights, Queens.
The deal closed on June 8, 2021 and was recorded on June 24, 2021.
The property has 124,600 square feet of built space and 0 square feet of additional air rights for a total buildable of 110,080 square feet according to PincusCo analysis of city data. The loan price per built square foot is $68 per the PincusCo analysis.
The signatory for Katz Realty Group was Lennard Katz.
Over the past five years, there have been 3 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 $381,514.
Lennard Katz is a partner at Katz Realty Group.
The owners according to the Department of Housing Preservation and Development includes Ronald Katz, head officer and Lennard Katz, officer. The business entity is Cinderella Realty Llc.
Within a 400-foot radius of 34-35 35th Avenue, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
One of those two items was a sale which A&E Real Estate Holdings|Harvard bought the 77,856-square-foot, 70-unit rental (D1) on 35-16 34th Street and 39 other properties for $14.2 million from A&E Real Estate Holdings on February 17, 2021.
One of those two items was a loan which A&E Real Estate Holdings borrowed $9.0 million from Signature Bank secured by the 50,232-square-foot, 70-unit rental (D1) on 35-16 34th Street on February 26, 2021.

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