Shibber Khan, Criterion Group sign the $15M refi loan with New York Community for LIC storage

Shibber Khan and Criterion Group through the entity 3108 Northern Blvd LLC as borrower signed a refi loan with lender New York Community Bank valued at $15 million for the storage (E7) at 31-08 Northern Boulevard in Long Island City, Queens.
The deal closed on April 19, 2021 and was recorded on April 30, 2021.
The property has 248,681 square feet of built space and 7,163 square feet of additional air rights for a total buildable of 255,840 square feet according to PincusCo analysis of city data. The loan price per built square foot is $60 and the price per buildable square foot is $58 per the PincusCo analysis.
The owner bought the property on 11-May-15, for $28 million.
The signatory for Shibber Khan and Criterion Group was Shibber Khan.
(420665060) Plans for a 248,681-square-foot S-1 storage building were filed on January 30, 2019.
Shibber Khan owns Criterion Group.

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