 |
| Jillian Mariutti |
NEW YORK, NY, Nov. 23, 2021 — JLL Capital Markets announced today that it has secured a $59 million refinancing for The Film Factory, a multi-story, mixed-use, light industrial, office and production studio totaling approximately 141,000 square feet at 48-05 Metropolitan Ave. in Ridgewood, Queens.
 |
| Jacqueline (Jackie) Ferrer |
JLL
represented the borrower, Mult Lots, LLC, to place the floating-rate,
non-recourse loan with Ladder Capital Finance LLC.
Completed
as ground up construction earlier this year, The Film Factory is a
four-story building that includes a full-size cellar with utility rooms,
back-of-house and storage for the first-floor retail space, as well as
approximately 30,000 square feet for two-tier automobile storage.
The
first floor features a lobby and reception area, front and rear vehicle entry
and exits, a car washing area, repair shop and loading docks.
 |
| Brian Buglione |
The
second, third and fourth floors features factory workshops or office/flex
space, outdoor eating and drinking areas, boiler rooms, HVAC equipment, stair
and elevator bulkheads.
The
roof provides additional vehicle storage and an outdoor deck. Picture Car
Services, the largest East Coast supplier of vehicles in the motion-picture,
television and commercial production industry, occupies 38 percent of
the property.
The
Film Factory is located near the L and M subway lines, providing direct
connectivity throughout Queens and Manhattan.
The
JLL Debt Advisory team was led by Senior Director Jillian Mariutti,
Director Brian Buglione and Vice President Jackie Ferrer.
 |
| The Film Factory, 48-05 Metropolitan Avenue Ridgewood, Queens, New York |
“This
refinancing supports The Film Factory’s continued success supporting New York
City’s thriving production industry,” Mariutti said. “This project provides
custom features that will significantly improve operational efficiency.”
“We continue to see outsized demand from lenders for well-located and high-quality industrial product in and around New York City,” Buglione said.
“The Film Factory is an excellent example of the liquidity in
the bridge lending space, helping borrowers successfully achieve their business
plans.”
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visit our newsroom.
CONTACTS:
George Shea, Rachel Tate
Company: Shea
Communications
Phone: +1 760 519 4596
Email: rachel@sheacommunications.com
Cierra Lacasse
PR, Capital
Markets
JLL
T +1 602 648 8701
M +1 408 318 8021
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