Triangle Equities signs $60M loan with H.I.G. for warehouse in South Ozone Park

130-02 South Conduit Avenue (Credit - Google)

130-02 South Conduit Avenue (Credit - Google)

Triangle Equities through the entity South Conduit Warehouse Owner, LLC as borrower signed a loan with lender H.I.G. Capital through its H.I.G. Realty Credit Holdings, LLC valued at $60 million for the 296,210-square-foot, five-story property at 130-02 South Conduit Avenue in South Ozone Park, Queens.
The deal closed on March 15, 2023 and was recorded on March 23, 2023.

The block

On this tax block, PincusCo has identified the owners of one of the two commercial properties representing zero square feet of the 91,700 square feet. The identified owner is Triangle Equities.
On the tax block, there was one new building construction project filed totaling 223,882 square feet. It is a 223,882 square-foot storage (S-1) building submitted by Triangle Equities and filed by Josh Weingarten with plans filed December 3, 2018 and permitted August 25, 2020.

The majority, or 100 percent of the 91,700 square feet of built space are specialty buildings, with development buildings next occupying 0 percent of the space.

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