Maguire Capital buys $2M note secured by five-unit LIC building

Maguire Capital Group through the entity Maguire Vernon Boulevard LLC bought a note with an original principal of $2 million from SNG Capital Partners secured by Ronni S. Newman’s five-unit mixed-use building (S5) at 45-44 Vernon Boulevard in Hunters Point/Long Island City, Queens.
The deal closed on September 15, 2021 and was recorded on September 28, 2021.
The property has 4,975 square feet of built space and 2,417 square feet of additional air rights for a total buildable of 7,401 square feet according to PincusCo analysis of city data.
There was a DOB project to change the number of residential units from 0 to 4 that was permitted on September 21, 2018.

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