SIBA Residences signs $7.6M refi for 92-unit rental in Forest Hills

SIBA Residences through the entity 150 Greenway Terrace LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $7.6 million for the 92-unit residential elevator building (D7) at 150 Greenway Terrace in Forest Hills, Queens.
The deal closed on September 12, 2025 and was recorded on September 19, 2025. The prior lender was JPMorgan Chase which held debt that had an original loan amount of $9.1 million.The property has 139,142 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $54 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for SIBA Residences was Edward Abram . The signatory for JPMorgan Chase was Ursula Flores.

Prior sales and revenue

The owners according to the Department of Housing Preservation and Development includes Summer Law, head officer and Oscar Calderon, officer. The business entity is 150 Greenway Terrace Llc. The 139,142-square-foot property generated revenue of $3.7 million or $27 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 92 residential units in Forest Hills has 139,142 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 233 feet and is 115 feet deep with a total lot size of 63,750 square feet. The lot is irregular. The zoning is R3-2 which allows for up to 0.5 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $17.6 million. The property has 29 rent regulated units according to city tax records from 2023.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

There are no active new building construction projects on this tax block.

All properties are elevator.

The borrower

The PincusCo database currently indicates that SIBA Residences owned at least four commercial properties with 392 residential units in New York City with 416,923 square feet and a city-determined market value of $87 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are elevator properties. They are all located in Manhattan.

Direct link to Acris document. link