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

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.