New York City Commercial Real Estate News
April 1, 2011
By: Lois Weiss

  An $11 million financing was closed on behalf of Storage Deluxe for a property in Long Island City, Queens. The transaction included financing for the eventual development of a plot of vacant land located at 33-24 Woodside Avenue, Woodside. Wells Fargo Bank, NA provided the financing for the project. The land was purchased from HD Development of Maryland, an affiliate of Home Depot USA, using equity.

“We were pleased to help Storage Deluxe develop in this growing neighborhood,” said Louis A. Perfetto, Esq., managing partner of Cohen & Perfetto LLP. “It is exciting to see that new projects are starting to arrive in Long Island City.” ...

...Perfetto oversaw the transaction working with Matia S. Nikolovienis and Christine Mulryan, also of Cohen & Perfetto. James J. Scott of Giordano Halleran & Ciesla represented HD Development of Maryland, Inc. in the transaction. Reed Smith LLP acted as the attorney for Wells Fargo Bank, NA. The deal was conducted using brokers from Studley as well as, Corporate Property Disposition.

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