A planned luxury residential tower billed as the tallest in New York’s Long Island City neighborhood in Queens has landed a $425 million construction loan as rents in the city reach new record highs.
New York Residential Tower Lands $425 Million Construction Loan
Development Is One of the Last Large-Scale Projects To Qualify for Expired 421-a Tax Exemption Program
By Andria Cheng
CoStar News
June 22, 2023 | 6:46 P.M.
RELATED ARTICLES
This news story is available exclusively to CoStar subscribers.
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.
This news story is available exclusively to CoStar subscribers.
Ready to Learn More?
Sign Up For a Personalized Demo.
Sign Up For a Demo To Learn More.
Already A Subscriber? Sign In
IN THIS ARTICLE
- Properties
- The Orchard
27-48 Jackson Ave, Long Island City, NY
- Companies
- BLDG Management Co., Inc.
Real Estate
- Greystone & Co., Inc.
Finance and Insurance