Torah Academy For Girls signs $6M refi with Bank of America in Far Rockaway

Torah Academy For Girls as borrower signed a refi loan with lender Bank of America valued at $6 million for the specialty building (W2) at 610 Lanett Avenue in Far Rockaway, Queens.
The deal closed on July 15, 2025 and was recorded on July 22, 2025. The prior lender was Bank of America which held debt that had an original loan amount of $4.2 million.The property has 32,900 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $182 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 Torah Academy For Girls was Meyer Weitman. The signatory for Bank of America was Evan Lieberman .

The property

The specialty building in Far Rockaway has 32,900 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 128 feet and is 70 feet deep with a total lot size of 24,751 square feet. The lot is irregular. The zoning is R4-1 which allows for up to 0.75 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $10.4 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on August 30, 2021. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Far Rockaway, The majority, or 65 percent of the 12.8 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 18 percent of the space. In sales, Far Rockaway has had very little sales volume relative to other neighborhoods with $152.5 million in sales volume in the last two years. For development, Far Rockaway has 1.3 times the average amount of major developments relative to other neighborhoods and is the 3rd 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 14 percent of the neighborhood’s built space.

The block

There are no active new building construction projects on this tax block.

All properties are specialty.

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