Matthew B. Whalen Of Cord Meyer Development Company Secures $75M Construction Loan In Queens

The asset involves a multifamily development located at 212-45 26th Avenue in Queens. The project is set to include 145 apartments divided between two five-story buildings positioned above the Bay Terrace Shopping Center. The loan amount secured for this construction is $75,000,000, provided by New York Life Real Estate Investors.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $75,000,000
• Lender: New York Life Real Estate Investors
• Landlord: Matthew B. Whalen - Cord Meyer Development Company
• Broker Representatives: Scott Singer, Andrew J. Singer, Kevin Swartz, Kathleen McSharry & David Brucker - Avison Young

The loan agreement enables the Queens developer Cord Meyer Development to proceed with the construction of the aforementioned multifamily units. The key stakeholders involved include Matthew B. Whalen, representing the landlord, and a team of brokers from Avison Young, facilitating the deal.