Myron Berman signs $8.4M refi loan with 360 Capital Funding for development in Laurelton

Myron Berman through the entity 221-06 Merrick Blvd. Associates, LLC as borrower signed a refi loan with lender 360 Capital Funding through the entity Db 360 LLC valued at $8.4 million for three properties including the industrial (E1) at 221-26 Merrick Boulevard in Laurelton, Queens, development site (V1) at 134-11 221st Street in Laurelton, Queens, and development site (V1) at 221-18 Merrick Boulevard in Laurelton, Queens.
The deal closed on June 30, 2021 and was recorded on July 30, 2021.
The three properties have 13,300 square feet of built space and 65,384 square feet of additional air rights for a total buildable of 78,684 square feet according to PincusCo analysis of city data. The loan price per built square foot is $635 and the price per buildable square foot is $107 per the PincusCo analysis.
The signatory for Myron Berman was Myron J. Berman.
(421802142) Plans for an 81-unit, 72,130 square-foot R-2 were filed on January 17, 2020.
Within a 400-foot radius of 134-11 221st Street, Pincusco identified one commercial real estate item of interests occurred over the past 24 months.
It was a permit application filed on November 26, 2020 for the $1.7 million renovation of 11,050-square-foot R-2 building with 15 residential units at 222-01 Merrick Boulevard.

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