Centennial Bank Provides $88M Construction Loan For Mixed-Use Project In Flushing

134-03 35th Avenue, Queens, New York 11354, United States

$88,000,000

$251/SF

Building Size

350,000 SF

Asset Type

Mixed-use

Closing

Jan 31, 2022

AI

The property involved in this transaction is a mixed-use asset located at 134-03 35th Ave in Flushing. It consists of a 210-key Hilton Garden Inn, 120 residential condos, retail spaces, a community facility, and parking, spanning a total area of 350,000 square feet.

Summary of transaction details:

Property Type: Mixed-use
Transaction Amount: $88,000,000
Lender: Centennial Bank
Landlord: Chris Xu
Brokers: Morris Betesh & Omar Ferreira - Meridian Capital Group
Loan Type: Construction Loan

In this deal, the lender providing the construction loan is Centennial Bank. The landlord of the property is Chris Xu. The brokers involved in the transaction are Morris Betesh and Omar Ferreira from Meridian Capital Group.

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