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Cushman & Wakefield served as the exclusive advisor to affiliates of Muss Development, LLC in arranging $52 million for the refinancing of Flushing Plaza in Queens, New York. The 10-year fixed-rate financing was provided by affiliates of Bank of America.
Institutionally owned and managed by the Muss family and its partner for more than 35 years, Flushing Plaza is an office location for companies, government institutions and the noteworthy medical professionals. The asset comprises 233,436 s/f of long-term leased office space including 71,930 s/f of medical office space, 10,653 s/f of prime retail space and an 808-space parking garage.
A Cushman & Wakefield Equity, Debt & Structured Finance team of Gideon Gil and Alex Lapidus represented the borrower.