Shlomo Karpen borrows $18M from Bethpage Federal Credit Union for property in Long Island City

Shlomo Karpen through the entity The Borden Review LLC as borrower signed a loan agreement with lender Bethpage Federal Credit Union valued at $17.5 million for 1 parcel, including the tax class miscellaneous warehouse (E9) at 30-01 Review Avenue in Long Island City. The deal closed on September 27, 2019 and was recorded on October 4, 2019.
The property contains a total of 96,000 square feet of built space. The property has 237,381 square feet of available development rights.
The average loan per buildable square foot is $52.
The last time the property sold was October 7, 2014, for $17,000,000.

Over the past five years, there have been 9 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $700,000. There were 7 renovation/alteration projects (A2) applied for with a total estimated value of $746,756.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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