Liebel Rubin borrows $20M from Metropolitan Commercial Bank for nursing home property in Corona

Liebel Rubin through the entity Park Terrace Holdings, LLC as borrower signed a loan agreement with lender Metropolitan Commercial Bank valued at $20.0 million for 1 parcel, including the tax class nursing home (I6) at 59-20 Van Doren Street in Corona. The deal closed on December 30, 2020 and was recorded on January 6, 2021.
The property contains a total of 62,907 square feet of built space.
The average loan per buildable square foot is $318.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.

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