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These were the top outer-borough loans in December
Amazon warehouse project was the biggest by far New York /
RXR CEO Scott Rechler with 56-19 Grand Avenue, Queens (Getty, RXR)
The 10 largest outer-borough loans in December totaled $1.17 billion, a sharp drop-off about 40 percent from the November total of nearly $2 billion.
But one loan stood out from rest, and it’s no surprise Amazon was involved. That $272.9 million loan from JPMorgan Chase partially finances a project to develop a mega warehouse in Queens for the e-commerce behemoth.
A troubled Midtown development project is finally gaining some momentum.
Rabina Properties plans to build a 452,134-square-foot, mixed-use building at 520 Fifth Avenue in Midtown, according to records filed with the city’s Department of Buildings this week.
Plans for the 70-story building at the corner of East 43rd Street include 98 residential units across 16 floors, along with 15 stories dedicated to office space and several floors of amenities, including a solarium and private dining. KPF is listed as the architect of record.
Notably absent from the filing is a hotel and retail space, which were included in previous plans for the project. Rabina did not return a request for comment.