NEW YORK CITY — A partnership between affiliates of Cantor Fitzgerald and Silverstein Properties has received $165 million in construction financing for 44-01 Northern Boulevard, a multifamily project in the Astoria neighborhood of Queens. The 63,000-square-foot development site is located within an opportunity zone, and has received investment from the Cantor Silverstein Opportunity Zone Trust. Banco Inbursa provided the latest round of financing for the project, which is scheduled for completion in spring 2024. The community is set to offer 354 units in a mix of one- and two-bedroom configurations, 25 percent of which will be priced affordably. The property will also feature 25,000 square feet of retail, 20,000 square feet of amenity space and 200 parking spots. Hill West Architects designed 44-01 Northern Boulevard to pay homage to the borough’s industrial past through the use of masonry and blackened metal. Planned amenities include cascading gardens and an expansive gathering lawn; fitness and yoga studios; a children’s play room; resident lounge; and a 10th-floor amenity space with a co-working lounge, library, chef’s kitchen and rooftop deck offering panoramic views of the Manhattan skyline. The Cantor Silverstein Opportunity Zone Trust was created in 2019 with a focus on acquiring and developing real …
