Developers Tavros, Charney, And Incoco Capital Secure $525M Loan For Long Island City Condo Tower

The development site located at 24-19 Jackson Avenue & 45-03 23rd Street in Long Island City has secured financing for the construction of a 55-story, 636-unit condo tower. The total loan amount for this project is $525,000,000, which is aimed at supporting the development activities planned for the area.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $525,000,000
• Lender: Josh Zegen - Madison Realty Capital; Laurent Morali & Nicole Kushner Meyer - Kushner Companies
• Landlord: Nicholas Silvers & Dov Barnett - Tavros; Sam Charney - Charney; Fa Park - Incoco Capital
• Loan Type: Construction
• Market: Long Island City

The financing obtained for this project was facilitated by notable developers Tavros, Charney, and Incoco Capital, who collaborated with lenders Madison Realty Capital and Kushner Companies for this significant construction endeavor in Court Square, Long Island City.