45-19 Davis Street
Developer Secures $52.5M for LIC Mixed-Use Project
Developer , has just obtained a $52.5 million loan for a 17-story mixed-use building, set to rise at 45-19 Davis Street in Long Island City, Queens. Issued by BHI and Valley Bank, this influx of capital will be used to fund all construction costs from start to finish.
The development will contain rental apartments and square feet of commercial space. This would likely come in the form of ground-floor retail. Plans also call for a cellar level and an enclosed parking garage, with enough room for vehicles.
Construction is expected to complete by the Summer of 2024. The lot measures square feet and sits directly next to 45-30 Pearson Street; a 25-story residential tower, which is also being developed by .