Lions Group obtains $29M in new debt in $65M loan package on LIC rental

The Shirian family’s Lions Group through the entity 27 Street LLC as borrower signed a loan agreement with lender Greystone & Co. through the entity Greystone Servicing Company LLC valued at $65 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 110 residential units at 42-10 27th Street in Long Island City. The deal closed on May 6, 2020 and was recorded on May 11, 2020.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 110 residential units on July 30, 2019. The property contains a total of 143,713 square feet of built space.
The average loan per unit is $590,909.
Albert and Ramin Shirian’s Lions Group refinanced a $36 million 2016 loan from Bank Leumi, adding $29 million in new debt. The $65 million package was assigned to Freddie Mac.

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. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link