Astoria, NY $42,000,000 ~84,000 SF Medical Office Acquisition & Construction
Knighthead provided a $42mm first mortgage loan to construct a 7-story, ~83,746 Gross SF medical office building located directly next to Mt. Sinai Hospital in Astoria, Queens. The property is ~65% pre leased to a credit medical tenant. The loan was underwritten to a ~65% “as-complete” value.