Margate Atlantic Properties borrows $8M from Signature Bank for property in Glendale

Michael Betesh’s Margate Atlantic Properties through the entity Woodhaven Retail Associates, LLC as borrower signed a loan agreement with lender Signature Bank valued at $7.6 million for 1 parcel, including the tax class commercial condominium unit (R5) at 73-25 Woodhaven Boulevard in Glendale. The deal closed on March 4, 2020 and was recorded on March 12, 2020.
The property contains a total of 17,750 square feet of built space.
The average loan per buildable square foot is $428.
The last time the property sold was October 26, 2006, for $4,500,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on August 10, 2012.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link