Skyland Management signs $18.8M refi with Ellington Management for rental in Jamaica

Skyland Management through the entity 109-15 Merrick Blvd. Holdings, LLC as borrower signed a refi loan with lender Ellington Management Group through the entity EMG Transfer Agent LLC valued at $18.8 million for the 133-unit rental (D1) at 109-15 Merrick Boulevard in Jamaica, Queens.
The deal closed on September 23, 2021 and was recorded on November 8, 2021.
The property has 118,566 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $158 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 owner bought the property on November 11, 2015, for $23 million.
The signatory for Skyland Management was Isaac Dabakaroff. The signatory for Ellington Management Group was Katherine Meagher.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $167,500.
The owners according to the Department of Housing Preservation and Development includes Isaac Dabakaroff, head officer and Angela Dabakaroff, officer. The business entities are Skyland Management Group Llc, Skyland Management Group Llc., and 117-119 W. 15th St Llc.
FALSE

Direct link to Acris document. link