Sidney Lerman borrows $6M from Lakeland Bank for warehouse property in Maspeth

Sidney Lerman through the entity 58-38 Page Place Co. LLC as borrower signed a loan agreement with lender Lakeland Bank valued at $5.9 million for 1 parcel, including the tax class fireproof warehouse (E1) at 58-38 Page Place in Maspeth. The deal closed on May 29, 2020 and was recorded on June 2, 2020.
The property contains a total of 93,000 square feet of built space. The property has 223,614 square feet of available development rights.
The average loan per buildable square foot is $26.

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