ERG Commercial Real Estate has secured a $7-million construction loan for a new 16-story, 28-unit multifamily development located at 166-13 91st St., Jamaica, Queens. The financing was provided by a national middle-market institutional-quality construction and bridge lender.
The lender, a prominent player in the middle-market space, specializes in construction and bridge financing, providing flexible and reliable capital for projects like this one. Construction was set to commence in February of 2025 with completion anticipated to further elevate the residential landscape of Jamaica, Queens.
“ERG Commercial Real Estate’s expertise in navigating complex financing structures ensured a seamless process, aligning the needs of the developer with the lender’s criteria.” said Ryan Lewis, ERG’s Managing Director.
The development at 166-13 91st represents a significant addition to the Jamaica neighborhood, offering modern residential units designed to meet the growing demand for quality housing in the area, according to ERG Commercial.
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