Thor Equities, United American Land borrow $28M from Citigroup for retail condo in Flushing

Joe Sitt’s Thor Equities and the Laboz family’s United American Land through the entity Thor Flushing Commons LLC as borrower signed a loan agreement with lender Citigroup through the entity Citi Real Estate Funding Inc valued at $28 million for 1 parcel, including the tax class commercial condo recorded in Acris (CC) at 38-18 Union Street in Flushing. The deal closed on February 27, 2020 and was recorded on March 9, 2020.
The property contains a total of approximately 30,000 square feet of built space.

The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 148 residential units on September 11, 2019.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link