Muss Development borrows $52M from Bank of America for office property in Flushing

Muss Development through the entity Flushing Plaza Commercial, LLC as borrower signed a loan agreement with lender Bank Of America, N.A. valued at $52 million for 1 parcel, including the tax class office building with commercial with one to six stories (O5) at 41-61 Kissena Boulevard in Flushing. The deal closed on March 18, 2021 and was recorded on March 29, 2021.
The property contains a total of 363,663 square feet of built space.
The average loan per buildable square foot is $143.

Over the past five years, there have been 17 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 17 renovation/alteration projects (A2) applied for with a total estimated value of $8,374,550.

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