$145.9M Posts Against Astoria's 400 MWh Battery Project

The numbers

The collateral is Queens Block 850, Lots 1 and 100. City land records put those lots at 8,073,465 sq ft and 2,102,033 sq ft, owned of record by Con Edison and the Power Authority of the State of New York, both zoned M3-1. The developer holds a lease, not title, which is why two memoranda of lease were recorded in the same batch.

The recorded amount has moved. The August agreement references one prior instrument, a $169,449,940 mortgage recorded July 9, 2025 carrying the same three parties. That is a decline of $23,580,343.28, or 13.9%, over thirteen months, which is the shape of a construction facility being resized or drawn down rather than a distressed mark.

East River ESS, LLC gives an address at 400 Spectrum Center Drive in Irvine, California, the corporate address of 174 Power Global, the Hanwha-owned developer credited with the project. The plant has been publicly described at 100 MW and 400 MWh.

What’s next

The figure we could not resolve from the record is whether this is tax-exempt agency debt or conventional financing wearing an agency structure, and the instrument type alone does not say. Watch for a certificate of completion or a further agreement, either of which would mark the project moving from construction into operation. For the rest of the New York industrial picture, see our coverage of $136M of new debt on 14.7 acres of Bronx waterfront and the New York market.