The Biggest NYC Filing Since August Is $2.47B at LaGuardia
The batch is coded as agreements, not satisfactions, so nothing was discharged. The 2016 stack was restated upward.
The largest real property instrument recorded in New York City since August 1 is not a tower and not a land sale. It is an agreement against 83-00 23 Avenue in Queens, which is Terminal B at LaGuardia Airport, and it states $2,125,959,755.60. A second agreement in the same batch states $339,562,600.85. Together they come to $2,465,522,356.45. The next largest instrument recorded citywide in that span is the $421.5 million consolidation at 30 Hudson Yards.
Why it matters
Terminal B is among the largest public-private development partnerships in the region, a $5.1 billion rebuild finished in 2022, and what moved in August is its capital stack, not its concrete. LaGuardia Gateway Partners runs the terminal under a 35-year Port Authority concession that reached financial close in June 2016 and runs to 2050. Its counterparties on both agreements are the New York Transportation Development Corporation, the state’s conduit issuer, filed care of Empire State Development, and the Bank of New York Mellon.
For anyone underwriting concession-backed infrastructure, or building near the field, the figure is a benchmark. Long-dated public-private paper is being rewritten in 2026 at a scale no private New York transaction is approaching, and the airport’s capital plan is what drives hotel, industrial and logistics demand on the Queens side.
The numbers
All four documents in batch 2026080601053 are dated August 1 and were recorded August 11 against Block 926, Lot 1, a partial lot.
The cross-reference table is where the story sits. The $2,125,959,755.60 agreement points at CRFN 2016000204059, a June 2016 mortgage of $2,075,896,598.00. The $339,562,600.85 agreement points at CRFN 2016000204062, a June 2016 mortgage of $334,483,402.00. Those two 2016 mortgages total exactly $2,410,380,000.00. The 2026 pair runs $55,142,356.45 higher, up 2.3 percent.
The zero-dollar documents are coded SAGE, which the city’s document control table defines as Sundry Agreement, not satisfaction. Nothing here was discharged. ACRIS uses a separate code for that, SAT, which appears on this lot in 2017 and 2018 but not in August. The 2016 debt was not retired. It was restated higher.
What’s next
The filings name no securities issue. Separately, Empire State Development board materials for a May 28 NYTDC meeting authorized work toward up to $60,000,000 of Series 2026 special facility bonds for LaGuardia Gateway Partners, to fund 82 electric ground service equipment charging stations and three added gates. That was an inducement resolution, not a closing, with an underwriter appointed and no pricing. The recorded increase sits just under that ceiling, but nothing in the August batch references the authorization and we could not establish a link.
A separate 2018 stack on the same lot, $1,383,495,000.00 across two mortgages, belongs to Delta Air Lines. Watch for a satisfaction or an assignment against the 2016 mortgages.
On the record
What we checked ourselves, and where you can check it too.
- Public recordThe two August agreements cross-reference the 2016 mortgages document for document: the $2,125,959,755.60 agreement points at CRFN 2016000204059, a June 2016 mortgage of $2,075,896,598.00, and the $339,562,600.85 agreement points at CRFN 2016000204062, a June 2016 mortgage of $334,483,402.00. The 2016 pair totals exactly $2,410,380,000.00 against the 2026 pair's $2,465,522,356.45, a difference of $55,142,356.45.View the record on data.cityofnewyork.us
- Public recordThe two zero-dollar documents in the batch are coded SAGE, which the Department of Finance document control table defines as SUNDRY AGREEMENT rather than any form of satisfaction. No satisfaction of mortgage appears in the August batch, and ACRIS records satisfactions on this lot under the separate code SAT, which last appears here in 2017 and 2018.View the record on a836-acris.nyc.gov
- Public recordNYTDC directors materials for the May 28, 2026 meeting show the Series 2026 LaGuardia Terminal B financing is new money at an expected maximum principal amount of $60,000,000, to install 82 electric ground service equipment charging stations across Concourse A, Concourse B and the Baggage Hall and improvements for three additional gates, with RBC Capital Markets appointed underwriter. The materials are an inducement and authorization to prepare documents, not a closing, and they do not identify any refunding of the 2016 bonds.View the record on esd.ny.gov
- Our dataThe $2,125,959,755.60 agreement is the largest single instrument recorded anywhere in New York City since August 1, 2026, at 5.0 times the next largest, a $421,500,000 mortgage and consolidation at 30 Hudson Yards recorded August 31.View the record on data.cityofnewyork.us
Sources
- NYC ACRIS, document 2026080601053001Agreement, $2,125,959,755.60, 83-00 23 Avenue, recorded August 11, 2026
- NYC ACRIS, document 2026080601053003Agreement, $339,562,600.85, 83-00 23 Avenue, recorded August 11, 2026
- NYC Open Data, ACRIS Real Property ReferencesThe August agreement cross-references CRFN 2016000204059
- NYC Open Data, ACRIS Real Property MasterJune 2016 mortgage of $2,075,896,598.00 on the same lot
- NYC Open Data, ACRIS Document Control CodesDocument type SAGE is defined as SUNDRY AGREEMENT
- Empire State Development, NYTDC directors materials, May 28, 2026Series 2026 special facility revenue bonds, LaGuardia Airport Terminal B Improvement Project, maximum principal $60,000,000