$27,000,000

Bridge Loan

Flushing, Queens

W Financial has provided a $27 million bridge loan for the acquisition of a Flushing, Queens development site. The roughly-one-acre site consists of approximately 205,000 buildable square feet and currently has a two-story industrial building. The developer is planning to construct a mixed-use project with hotel, residential and retail components on the 37th Avenue site. W Financial’s lending team was able to close the time-sensitive loan within 3 days of the borrower executing W’s term sheet. The developer expects to repay W Financial after finalizing development plans and obtaining a construction loan.