Turnbridge Equities obtained financing of $24M from Aresif Lender

Turnbridge Equities through the entity 5895 Maurice Avenue Property LLC as borrower signed a loan agreement with lender Aresif Lender LLC valued at $24.0 million for 1 parcel, including the tax class fireproof warehouse (E1) at 58-95 Maurice Avenue in Queens. The deal closed on July 18, 2019 and was recorded on July 25, 2019.
The property contains a total of 127,587 square feet of built space.
The average loan per buildable square foot is $188.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. There was one renovation/alteration project (A2) applied for with a total estimated value of $379,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link