Susan Miller signs $8.9M refi with JPMorgan Chase for elevator building in Forest Hills

Susan Jane Miller through the entity 67-70 Realty Co., LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $8.9 million for the 109-unit residential elevator building at 67-70 Yellowstone Boulevard in Forest Hills, Queens.
The deal closed on January 14, 2022 and was recorded on February 22, 2022. The prior lender was JPMorgan Chase which held debt that had an original loan amount of $9 million.
The property has 118,800 square feet of built space and 3,922 square feet of additional air rights for a total buildable of 122,677 square feet according to PincusCo analysis of city data. The loan price per built square foot is $74 and the price per buildable square foot is $72 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 Susan Jane Miller was Susan Jane Miller. The signatory for JPMorgan Chase was Ursula Flores.
The 118,800-square-foot property generated revenue of $2.2 million or $18 per square foot, according to the most recent income and expense figures.

In Forest Hills, the majority, or 58 percent of the 43.3 million square feet of built space are residential elevator buildings, with 1-4 family buildings next occupying 27 percent of the space. In sales, Forest Hills has had very little sales volume relative to other neighborhoods with $99.6 million in sales volume in the last two years. For development, Forest Hills has 1.9 times the average amount of major developments relative to other neighborhoods and is the 6th highest in Queens. It had 1.8 million square feet of commercial and multi-family construction under development in the last two years, which represents 4 percent of the neighborhood’s built space.
On the tax block, the majority, or 94 percent of the 390,845 square feet of built space are residential elevator buildings, with retail buildings next occupying 6 percent of the space.
The owners according to the Department of Housing Preservation and Development includes Daryl Rosenblatt, head officer and Mark Katz, officer. The business entity is 6770 Realty Co, Llc.

Direct link to Acris document. link