251-73 Jericho Turnpike, Bellrose, Queens 251-73 Jericho Turnpike, Bellrose, Queens

NEW YORK CITY—AB Capstone closed on a $21.4 million firstmortgage loan from Madison Capital Realty for a building located at251-73 Jericho Turnpike in Bellrose, Queens. The borrower will usethe funds to refinance previous debt, and to support final leaseupand stabilization of the property which serves as collateral forthe loan.

The 78,313-square-foot commercial building is approximately 70%leased to six office and retail tenants. Several additional leasesare currently in the final stages of negotiation and will bring thebuilding to full stabilization.

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.