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New York & Tri-State  + National + Outer  + Finance  |  June 30, 2025
Paul Bubny
By: Paul Bubny

LIC Rental/Condo Tower Lands $388M Financing

Baron Property Group (BPG) and LargaVista Companies said Monday they had secured $388.5 million in construction financing for 30-25 Queens Blvd., a 46-story mixed-use residential tower being developed in Long Island City. Starwood Capital Group, Gotham Organization and Blackstone Real Estate Debt Strategies provided the financing.

Ayush Kapahi, principal and founding partner at commercial real estate advisory HKS Real Estate Advisors, and Anthony Ledesma, principal and founding partner of boutique real estate advisory firm DIA Capital Group, facilitated the deal. “This construction financing represents a significant step forward for our team and reinforces our dedication to delivering innovative projects in thriving neighborhoods,” said Matthew Baron, BPG founder and president.

30-25 Queens Blvd. marks the second collaboration between BPG and LargaVista, following The Park Overture, a Washington Heights rental development completed last fall. The development will bring more than 500 rental and condominium homes and new retail space to the neighborhood. Construction is slated for completion in early 2028.  

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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