Tishman Speyer Secures $132.3M Construction Loan For Development Site In Edgemere, Queens | 5119 Beach Channel Drive | NYC Housing Development Corporation | Development Site | Loan

Summary

Loan

NEW YORK

Development Site

Tishman Speyer has secured a $132.3 million new construction loan from NYC Housing Development Corporation for a 237-unit development site located at 5119 Beach Channel Drive in Edgemere, Queens. The development site spans 168,694 square feet and is expected to be used for the construction of residential units.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $132,300,000
Units: 237
Building Square Footage: 168,694
Address: 5119 Beach Channel Drive, Edgemere, Queens
Market: Edgemere, Queens

The loan has been provided by NYC Housing Development Corporation to support the development of the 237-unit project in Edgemere. Tishman Speyer, represented by Joseph G. Doran, will oversee the construction and development of the site.

Players

All
1

Lenders
1

NYC Housing Development Corporation

Details

Deal Summary

FINANCED

IMAGE: Joseph G. Doran DATE: 06/26/2023 ADDRESS: 5119 Beach Channel Drive MARKET: Edgemere, Queens ASSET TYPE: Development Site ~ UNITS: 237 ~ BSF: 168,694 LENDER: NYC Housing Development Corporation LANDLORD: Tishman Speyer - Joseph G. Doran LOAN AMOUNT: $132,300,000 LOAN TYPE: Construction NOTE: Tishman Speyer has secured a $132.3 million new construction loan from NYC Housing Development Corporation for a 237-unit development site in Edgemere, Queens.

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Address5119 Beach Channel Drive

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