Steven Berger signs $16.9M construction loan with Metropolitan Commercial for Elmhurst development

Steven Berger through the entity 7920 Realty LLC as borrower signed a new construction loan with lender Metropolitan Commercial Bank through the entity Metropolitan Commercial Bank valued at $16.9 million for the development site (V1) at 79-20 Queens Boulevard in Elmhurst, Queens.
The deal closed on April 27, 2021 and was recorded on May 13, 2021.
The property has 0 square feet of built space and 25,087 square feet of additional air rights for a total buildable of 25,087 square feet according to PincusCo analysis of city data. The loan price per buildable square foot is $671 per the PincusCo analysis.
The owner bought the property on 16-Jun-14, for $3.8 million.
The signatory for Steven Berger was Steven Berger.
(420666595) Plans for a 0-unit, 40,066 square-foot commercial building were filed on November 22, 2019.

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