Raymour & Flanigan borrows $14M from City National Bank for retail property in Elmhurst

Raymour & Flanigan through the entity Elmhurst 86-08 Queens Boulevard, LLC as borrower signed a loan agreement with lender City National Bank valued at $14.1 million for 1 parcel, including the tax class two-story or store and office (K2) at 86-08 Queens Boulevard in Elmhurst. The deal closed on March 16, 2020 and was recorded on March 18, 2020.
The property contains a total of 28,890 square feet of built space.
The average loan per buildable square foot is $487.
The last time the property sold was December 2, 2019, when Raymour & Flanigan bought it for $14,000,000.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $216,250.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link