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S3 Capital Provides $92M Loan for Queens Development
S3 Capital Partners has provided a $92 million construction loan to Sunlight Development for the development of 138-18 Northern Boulevard in Flushing, Queens. The 17-story project will include 127 residential condos, 65,000 square feet of community facility space, and 47,000 square feet of retail space. The development will also feature a cellar, a rear yard, and enclosed parking spaces.
Located near the Main Street subway station and LaGuardia Airport. The retail space will include a grocery store and food hall, while the community facility space will primarily consist of medical offices. S3 Capital previously provided $28 million for the site’s acquisition, and development is currently underway.
“We are pleased to once again partner with a local sponsor who is building a standout project in Flushing’s growing market,” said Robert Schwartz, co-founder and principal of S3 Capital. “This project will enhance the neighborhood by providing superior residential options and community amenities.”
- ◦Financing
