New York-based real estate development firm Triangle Equities has secured $50 million in pre-development financing for a new multi-story logistics facility in College Point, Queens. The loan was arranged by JLL Capital Markets and provided by Centennial Bank. This financing marks an important step toward the development of the planned 425,000-square-foot industrial site located at 30-02 Whitestone Expressway.
Permits have been filed for a six-story residential building at 42-24 147th Street in Flushing, Queens. Located between Beech Avenue and Sanford Avenue, the lot is near the Flushing Street subway station, serviced by the 7 train. Wang Lam is listed as the owner behind the applications and also owns the adjacent 42-22 147th Street site.
At number six on our year-end countdown of the tallest buildings under construction in New York is The Orchard, an 811-foot-tall residential residential skyscraper at 27-48 Jackson Avenue in Long Island City. Designed by Perkins Eastman and developed by BLDG Management Company under the Building Orchard LLC, the 69-story structure will span 635,000 square feet and yield 824 rental units with nearly 200 designated as affordable housing, as well as 13,000 square feet of retail space, 100,000 square feet of amenities, and a two-story parking garage with 207 spaces. Triton Construction Company is the general contractor for the project, which is alternately addressed as 43-01 Queens Street and 42-02 Orchard Street and occupies a full city block along Jackson Avenue between Queens and Orchard Streets.
Construction has broken ground at 29-15 40th Road, the site of a new residential building in Long Island City, Queens. Details are slim for the project, which is being designed by Fogarty Finger Architects and developed by SB Development, which also acquired the adjacent lot at 29-13 40th Road for $8.7 million over the fall. 29-15 40 RD LLC is listed as the owner and Alba Services Inc. served as the demolition contractor for the property, which is located on an interior lot bound by 40th Avenue to the north and 40th Road to the south.
Permits have been filed to expand a two-story structure into an eight-story mixed-use building at 89-10 150th Street in Jamaica, Queens. Located between 89th and 90th Avenues, the lot is near the Parsons Boulevard subway station, serviced by the F train and the Jamaica Center-Parsons/Archer, serviced by E, J, and Z trains. Song Dong of FR Development LLC is listed as the owner behind the applications.
