MRC PROVIDES $7.2M LOAN FOR ASTORIA MIXED-USE PROPERTY

by admin

NEW YORK CITY — Madison Realty Capital (MRC) has provided a $7.2 million construction loan for a partially complete mixed-use property in Queens. The property is located at 28-18 Astoria Blvd. in the neighborhood of Astoria. Proceeds from the loan will be used to retire outstanding debt and fund the completion of construction for the building. The seven-story, 24,992-square-foot property includes 21,514 square feet of residential, as well as 2,289 square feet of retail space and 1,189 square feet of community space. The final phase of the project includes the construction of 28 one-bedroom units.

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