ERG Commercial Real Estate has secured a $7-million construction loan for a new 16-story, 28-unit multifamily development located at 166-13 91st St., Jamaica, Queens. The financing was provided by a national middle-market institutional-quality construction and bridge lender.

The lender, a prominent player in the middle-market space, specializes in construction and bridge financing, providing flexible and reliable capital for projects like this one. Construction was set to commence in February of 2025 with completion anticipated to further elevate the residential landscape of Jamaica, Queens.

“We are thrilled to have facilitated this $7 million loan, which will bring this exceptional multifamily project to life,” said Matthew Murphy, director of financing at ERG Commercial Real Estate. “This deal reflects our commitment to delivering tailored financing solutions and supporting transformative real estate developments that enhance communities.”

The development at 166-13 91st represents a significant addition to the Jamaica neighborhood, offering modern residential units designed to meet the growing demand for quality housing in the area, according to ERG Commercial.