Romer Debbas, LLP’s commercial transactional group recently represented the borrower in connection with a $50,000,000.00 pre-development loan secured by a standalone lot on its city block located in Whitestone, Queens. The property is improved with a two-story, 165,000 square foot retail building which is to be demolished to make way for an as-of-right industrial development totaling approximately 500,000 gross buildable square feet. This transaction was handled by Guy Arad, Esq. and Alison Weisman Roeper, Esq.
