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.