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New York City — Northmarq has arranged a $75 million loan for the acquisition and redevelopment of Whitestone Shopping Center, a 119,584-square-foot shopping center located in the northern Whitestone neighborhood of Queens. According to Long Island Business News, BTF Whitestone LLC purchased the center for $56 million.
Key Food Supermarket anchors the property, which was originally built in 1955. Additional tenants include Webster Bank and JPMorgan Chase.
Robert Delitsky and Keith Braddish of Northmarq secured financing through Acadia Realty Trust on behalf of the borrower.