Related signs $70M loan with Goldman Sachs for retail in College Point

Related Companies through the entity CP Property Owner LLC as borrower signed a loan with lender Goldman Sachs through the entity Goldman Sachs Bank USA valued at $70 million for six properties including the retail building (K8) at 135-05 20th Avenue in Queens, Queens, retail building (K8) at 137-05 20th Avenue in Queens, Queens, and retail building (K1) at 136-07 20th Avenue in Queens, Queens.
The deal closed on June 15, 2021 and was recorded on June 30, 2021.
The six properties have 331,334 square feet of built space and 773,946 square feet of additional air rights for a total buildable of 1,105,234 square feet according to PincusCo analysis of city data. The loan price per built square foot is $211 and the price per buildable square foot is $63 per the PincusCo analysis.
The signatories for Related Companies and another borrower were Glenn A. Goldstein and Lewis I. Gantman.
Over the past five years, there have been 7 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 7 renovation/alteration projects (A2) applied for with a total estimated value of $4.1 million.
There was no debt recorded prior to this $70 million loan.

Direct link to Acris document. link