LSC Development obtained financing of $24M from Fifth Third Bank

LSC Development through the entity 30Th Avenue Woodside Holdings LLC as borrower signed a loan agreement with lender Fifth Third Bank valued at $23.5 million for 1 parcel, including the tax class one-story store building (K1) at 62-05 30 Avenue in Woodside. The deal closed on June 25, 2019 and was recorded on July 25, 2019.
The property contains a total of 36,184 square feet of built space. The property has 36,184 square feet of available development rights.
The average loan per buildable square foot is $473.
The last time the property sold was October 24, 2017, for $9,405,000.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $520,000.There has been one new building permit application totaling 95,116 square feet. 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

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