Ming’s Garden Realty Secures $60.25M Bridge Financing For Astoria Condo Tower

The property at 26-01 4th Street in Astoria, Queens, is a 13-story, 143-unit condominium tower set for completion in Q1 2025. Ming’s Garden Realty secured $60.25 million bridge financing from Slate Property Group and LibreMax Capital for this property.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $60,250,000
• Asset Type: Condo
• Square Footage: 40,034
• Address: 26-01 4th Street
• Market: Astoria, Queens
• Lender: Libremax Capital & Daniel Ridloff - Slate Property Group
• Broker: Sam Zhang - New Land Capital
• Loan Terms: Two-year, floating-rate loan

Ming’s Garden Realty was the borrower in this transaction, securing the loan from Slate Property Group and Libremax Capital. Sam Zhang from New Land Capital represented the borrower on this deal.