Andrew Chung lands major refi for LIC last-mile project – Robert Khodadadian

After his fiasco with the HSBC tower, Andrew Chung needed some good news. And he got it. Chung’s Innovo Property Group scored a massive $435 million refinancing of its project at 23-30 Borden Avenue in Long Island City, the Commercial Observer reported. JPMorgan Chase provided the senior loan and Starwood Property Trust, the mezzanine debt. The refinancing comes slightly more than a year after Innovo landed a $155 million construction loan from a Starwood affiliate

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Development, Home Page, Andrew Chung, Industrial Real Estate, Innovo Property Group, long island city, Real Estate Finance The Real Deal New York Read More