Walker & Dunlop arranged a $131M construction loan for 23-10 42nd Road, a 35-story residential development situated at the convergence of the Court Square and Queens Plaza subdistricts in Long Island City, New York – one of the fastest growing neighborhoods in America. The building will be developed with a classic yet contemporary curtain wall facade and include 240 thoughtfully designed studio one-and two-bedroom apartments featuring premium unit finishes. In addition, the project will include more than 15,000 square feet of indoor and outdoor amenities, including a triple-height fitness center, a residents’ lounge with co-working spaces, a roof-level sky lounge, and multiple amenity terraces, all with expansive views of the Manhattan skyline. Foundation work was completed in Fall 2022, and the project is anticipated to be completed in Summer 2025. Walker & Dunlop represented the sponsor, Werwaiss Properties, a multi-generational, family-owned real estate development company, to secure the floating rate construction loan through Corebridge Financial and PCCP, LLC.
Published first on TheFly
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