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Chetrit lands financing for 150-13 89th Avenue

Rendering of 150-13 89th Avenue (Credit: Goldstein, Hill and West Architects & YIMBY)

The Chetrit Group has secured a $200 million loan from Square Mile Capital for its residential development at 150-13 89th Avenue in Queens, according to TRD. The new loan refinances $127.5 million in previous construction debt provided by Bank OZK and Arbor Commercial Mortgage in 2016. 

  • Plans: Upon completion, the project will span 298,000 square feet of residential space, and contain 324 apartments. The four-building complex will also include a 237-space underground parking garage. It’s located in downtown Jamaica at 88th Avenue and 153rd Street.
  • Flashback: Chetrit paid $4.8 million for the site of the former Mary Immaculate Hospital in 2009.
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