Triumph Hotels obtained financing of $20M from INVESTORS BANK

Triumph Hotels through the entity 9400 REALTY LLC as borrower signed a loan agreement with lender INVESTORS BANK valued at $19.5 million for 1 parcel, including the tax class miscellaneous (H9) at 94-00 Ditmars Boulevard in East Elmhurst. The deal closed on July 01, 2019 and was recorded on July 11, 2019.
The property contains a total of 78,496 square feet of built space.
The average loan per buildable square foot is $248.
The last time the property sold was September 08, 2016, for $5,004,641.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 170 residential (or hotel) units on January 18, 2018.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $3,215,255.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link