153-10 88th Avenue
Update
10/15/21
Developer Receives $83M Loan for Jamaica Residential Development
Developer, Zara Realty Holdings Corp has just received an $83 million construction loan to build a residential development at 153-10 88th Avenue in Jamaica, Queens. Funding was provided by Emigrant Bank and Arbor Realty Trust. Once constructed, the 9-story building will contain 223 apartment units, ranging from studios to two-bedroom setups. Approximately 30 percent of the units will act as affordable housing. The 218,000 square foot structure will also contain community facilities on the ground floor and an incorporated parking garage with 176 spaces. Additionally, there are plans for rooftop solar panels, outdoor terraces, and a fitness center. Ismael Leyva Architects is the design firm behind the project.
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