36-20 Steinway Street
Long Island City, Queens, NY
Deal Type: Ground-up construction
Project Type: Multifamily Rental
Location: Long Island City, Queens, NY
Investment Size: $56M
Property Size: 142,352 GSF / 108,104 NSF / 143 Units
LOAN OVERVIEW
The Sponsor will develop 36-20 Steinway St to be one of Long Island City’s newest Class-A, multifamily buildings with a high-end amenity package to attract residents. The Property will offer residents convenient transportation access via the E, M and R subway lines located 4 blocks from the Property. The Sponsor is expected to refinance the construction loan with permanent financing from traditional CRE lenders during the lease up phase of the Property.