George Xu Of Century Development Group Secures $43.4 Million Construction Loan For 116-Unit Development

The property asset involved is a development site located at 33-75 Farrington Street in Flushing, equipped with a building square footage of 78,653. The planned development will consist of 116 residential units and is backed by a construction loan of $43,400,000 from Bank Hapoalim.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $43,400,000
• Address: 33-75 Farrington Street
• Market: Flushing
• Lender: Bank Hapoalim
• Landlord: George Xu - Century Development Group

Century Development Group, represented in the deal by George Xu, secured financing through 35 Ave Xu Holdings LLC, marking a significant step towards the realization of the residential development project in Queens.