New Empire Group has landed $ 43.7 million in financing condominium supplies for the development of luxury homes recently built in Long Island City, Queens, Commercial Observer has learned.
Goodman Capital provided a $39.5 million senior secured loan for the developer’s unsold 117-unit condominium. radiant the project 24-01 Queens Plaza North which ended in June. JEMM Capital Partners too provides a mezzanine loan of $ 4.2 million as part of a transaction that refinances past debts and supports the sponsor through the sale of the remaining premises.
“Financing gives sponsors the time and flexibility to sell their remaining home at full value, Etan Slomovicpartner at Goodman Capital, said in a statement.
Apex Capital Financing negotiations with the team led by Vincent Martucci and Sana Khaliq.
Located steps from Queensboro Plaza subway station, this 19-story condo building was designed by ODA New York with interior by Paris Forino. Resident amenities include a fitness center, indoor basketball court, billiards room, sauna, golf simulator, and a rooftop terrace with lounge and grill station.
“Radiant is a newly delivered building in a fantastic location,” Eric Goodmanmanaging partner at Goodman Capital, said in a statement.
New Empire Group did not immediately return requests or comments.
Andrew Coen can reach it acoen@commercialobserver.com.