Tishman Speyer signs $425M refi loan with Bank of America for office building in Long Island City

Tishman Speyer through the entity LIC Site B-1 Owner, L.L.C. as borrower signed a refi loan with lender Bank of America valued at $425 million for the office building (O4) the Jacx at 28-10 Queens Plaza South in Long Island City, Queens. The Commercial Observer reported on the loan last month.
The deal closed on August 19, 2021 and was recorded on September 2, 2021.
The property has 1,143,631 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $371 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 Tishman Speyer was Paul A. Galiano.
(420656873)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building on October 28, 2019. (420656873) Plans for the 1,156,544 square-foot office building were filed on June 1, 2016 and were permitted on June 1, 2017.
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Within a 400-foot radius of 28-10 Queens Plaza South, Pincusco identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Granite Management borrowed $6.3 million from Metropolitan Commerical Bank secured by two condo units in the 0-square-foot, 294-unit mixed-use building (RM) on 29-11 Queens Plaza North on March 3, 2020.

Direct link to Acris document. link