Joel Zupnick's Sutphin Boulevard Equities Secures $142M Construction Loan For 521-Unit Development Site In Jamaica, Queens

Sutphin Boulevard Equities, a development entity owned by NYC real estate financier Joel Zupnick, has secured $142 million in construction financing for a 521-unit multifamily building in Jamaica, Queens. The development site is located at 147-35 95th Avenue in the thriving market of Jamaica, Queens.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $142,000,000
• Units: 521
• Lender: SCALE Lending - Daniel Ridloff
• Landlord: Joel Zupnick - Sutphin Boulevard Equities
• Broker: Steven Hersko - SHB Group

The loan was provided by SCALE Lending, with Daniel Ridloff acting as their representative. Joel Zupnick, the owner of Sutphin Boulevard Equities, served as the landlord for the transaction. Steven Hersko, from the SHB Group, represented the parties involved as the broker.