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Massey Knakal Realty Services is pleased to offer the sale of senior notes for two development sites in Staten Island. The loans are non-performing, as maturity defaults have occurred. These offerings are being sold on an all-cash, as-is basis.

The collateral development site known as Waterfront Commons is located on the South Shore of Staten Island at the intersection of Richmond Valley Road and Arthur Kill Road. It is comprised of several contiguous land parcels containing approximately 1,300,000 square feet of M1-1 zoned waterfront property.  The site is situated in the greater Charleston shopping district, which is home to several well-known national tenants including Target, Home Depot, Bed Bath & Beyond, Petco, Modell’s and Applebee’s.

The collateral Liberty Towers site is located on Stuyvesant Place between Hamilton Avenue and Richmond Terrace in the St. George section of Staten Island.  It is comprised of 1.77 acres of land zoned C2-2/R6/HS (FAR 2.43) and permits a mixed-use or residential development of over 200,000 buildable square feet as of right. The site is within walking distance of the Staten Island Ferry, which provides residents with a 30 minute commute to lower Manhattan, and Richmond County Bank Ballpark, the home of the Staten Island Yankees.  This is a unique opportunity to acquire a loan for a large development site in the heart of Staten Island’s downtown business district.

Click here for full press release.

Neighborhoods: Staten Island