Baron Property Group (BPG) and LargaVista Companies said Monday they had secured $388.5 million in construction financing for 30-25 Queens Blvd., a 46-story mixed-use residential tower being developed in Long Island City. Starwood Capital Group, Gotham Organization and Blackstone Real Estate Debt Strategies provided the financing.
Ayush Kapahi, principal and founding partner at commercial real estate advisory HKS Real Estate Advisors, and Anthony Ledesma, principal and founding partner of boutique real estate advisory firm DIA Capital Group, facilitated the deal. “This construction financing represents a significant step forward for our team and reinforces our dedication to delivering innovative projects in thriving neighborhoods,” said Matthew Baron, BPG founder and president.
30-25 Queens Blvd. marks the second collaboration between BPG and LargaVista, following The Park Overture, a Washington Heights rental development completed last fall. The development will bring more than 500 rental and condominium homes and new retail space to the neighborhood. Construction is slated for completion in early 2028.
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