Maxim Capital Group Provides $85.7M Construction Loan For Mixed-Use Property In Flushing, Queens

A construction loan worth $85,700,000 has been secured for a mixed-use property located at 35-32 Leavitt Street, Flushing, Queens. The property consists of 52 residential condo units, a 246-key Westin Flagged Hotel, and 5,500 square feet of commercial space, totaling 229,060 square feet.

Summary of transaction details:

• Property Type: Mixed-use (residential condos, hotel, commercial space)
• Transaction Amount: $85,700,000
• Address: 35-32 Leavitt Street, Flushing, NY
• Market: Queens
• Asset Size: 229,060 square feet

The loan was provided by Maxim Capital Group, specifically Adam Glick and Josh Greene. Representing the borrower in this transaction were Morris Betesh and Omar Ferreira from Meridian Capital Group.

This loan, which is of the construction type, will support the development and completion of the mixed-use property, enabling the construction of the residential condos, the Westin Flagged Hotel, and the commercial space within the building.