Aaron Lebovits Secures $50.4M Construction Loan From Ponce Bank For 99-Unit Project In Sunnyside

Aaron Lebovits, through 42-25 Queens Blvd Holdings LLC, is involved in a development project located at 42-25 Queens Boulevard in the Sunnyside area of Queens. The asset is a development site with a buildable square footage of 68,424. The project consists of a planned 99-unit residential complex.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $50,400,000
• Loan Type: Construction
• Lender: Ponce Bank
• Landlord: Aaron Lebovits
• Date: 09/03/2026

Ponce Bank provided the construction loan, facilitating the financing necessary for the intended residential project. This loan marks a significant step in the development process overseen by Aaron Lebovits and his company.