Moshe Piller’s MP Management borrows $19M from Flushing Bank for store property in Kensington

Moshe Piller’s MP Management through the entity 13th Avenue Retail Holdings 36, LLC as borrower signed a loan agreement with lender Flushing Bank valued at $18.75 million for 7 parcels, including the tax class two-story or store and office (K2) at 4404 13th Avenue, 4406 13th Avenue, 4502 13th Avenue, 4414 13th Avenue, 4310 13th Avenue, and others in Kensington. The deal closed on October 29, 2019 and was recorded on November 13, 2019.
The property has 116,594 square feet of available development rights.
The average loan per buildable square foot is $198.

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