Wildflower, Ltd. ups construction debt by $21M from Ares Commercial for project in Steinway

Wildflower, Ltd. through the entity WF Industrial IV LLC as borrower signed a loan agreement with lender Ares Commercial Real Estate Management through the entity Acrc Lenders Ms LLC valued at $21 million for 1 parcel, including the tax class commercial (CR) at 36-01 19th Avenue in Steinway. The deal closed on October 23, 2020 and was recorded on November 10, 2020.
The property contains a total of square feet of built space.
The average loan per buildable square foot is $ not available.
This is a supplemental building and project loan.

Over the past five years, there have been 20 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $100,000.There has been one new building permit application totaling 144,000 square feet. There have been 18 demolition projects filed over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link