Reign Capital pays $59.3M to AT&T in sale-leaseback for industrial in Rego Park

Reign Capital through the entity Reign Co1 Propco, LLC paid $59.3 million to AT&T through the entity AT&T Communications Of New York, Inc. for industrial (U4) at 94-03 Queens Boulevard in Rego Park, Queens.
The deal closed on May 28, 2021 and was recorded on June 15, 2021.

The signatory for AT&T was Russell McFadden. The signatory for Reign Capital was Ryan Klenovich.
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.
This is a sale leaseback, with the new owner leasing it to AT&T for a 25-year term with three 10-year extension options. The contract date was April 28, 2021.
Within a 400-foot radius of 94-03 Queens Boulevard, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Richard Podpirka borrowed $8.2 million from JPMorgan Chase Bank, N.A. secured by the 64,935-square-foot, 65-unit rental (D7) on 93-54 Queens Boulevard on November 29, 2019.

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