Benjamin Clyburn Of FSA Capital Secures $89M Construction Loan For Mixed-Use Development In Flushing

The property involved in this transaction is a mixed-use asset located at 133-09 37th Avenue, Flushing. It encompasses a total square footage of 254,755 and consists of 99 units. The loan amount for this construction project is $89,000,000, structured as a 3-year construction loan.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $89,000,000
• Address: 133-09 37th Avenue
• Market: Flushing
• Asset Size: 254,755 SF
• Units: 99
• Lender: Yanni Kouzilos & Douglas Romero - Ponce Bank; Johnny Zhang - Crowdfunz
• Landlord: Benjamin Clyburn - FSA Capital
• Lender's Representative: Jane Chen, Esq - The Usinger Law Practice PLLC
• Loan Type: Construction
• Loan Terms: 3 years

Ponce Bank, acknowledged as the most active construction lender in NYC, has provided financing to FSA Capital for the development of an ultra high-end and luxury condominium in Flushing. The project is being designed by Hill West Architects, a notable architecture firm recognized for its contributions to the New York City skyline.