Rocco Ron Romeo through the entity Land & Sea Development Corp. as borrower signed a loan agreement with lender Valley National Land valued at $5.0 million for 1 parcel, including the tax class fireproof warehouse (E1) at 147-07 94 Avenue in Jamaica. The deal closed on July 26, 2019 and was recorded on August 13, 2019. The property contains a total of 349,980 square feet of built space.
The property has 303,800 square feet of available development rights. The average loan per buildable square foot is $14. Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There has been one new building permit application totaling 417,068 square feet. Those plans include a total of 543 residential or hotel units.
There have been 3 demolition projects filed over the past five years.