BRP Companies Secures $303M Construction Loan For Archer II Mixed-Income Project In Jamaica Queens

A construction loan of $303,000,000 was secured for a development site located at 163-25 Archer Avenue in Jamaica, Queens. The asset, Archer II, is a 22-story mixed-income housing project consisting of 400 units positioned in Downtown Jamaica.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $303,000,000
• Lender: New York City Housing Development Corporation, New York City Department of Housing Preservation & Development, Wells Fargo
• Landlord: Andy Cohen - BRP Companies
• Loan Type: Construction

The financing deal was completed by BRP Companies in collaboration with public partners, marking a significant step in the development of mixed-income housing in the area. Andy Cohen, representing BRP Companies, is a key figure in this transaction.