LeFrak borrows $20M from BankUnited for office property in Rego Park

Real estate property owner LeFrak through the entity Federal Realty Limited Partnership as borrower signed a loan agreement with lender BankUnited valued at $20 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 97-77 Queens Boulevard in Queens. The deal closed on March 19, 2020 and was recorded on March 24, 2020.
The property contains a total of 307,297 square feet of built space.
The average loan per buildable square foot is $65.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on July 25, 2012.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $3,137.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link