Cape Advisors

Cape Advisors lands $65M to finance Astoria dev site purchase Bridge loan is for 18 months with options for extension

30-77 Vernon Boulevard (Credit: Google Maps)

Cape Advisors and Wainbridge Capital secured a $65 mi爱上海同城对对碰

llion loan to fund their 上海千花网交友

purchase of a waterfront development site in Astoria.

The bridge loan is for 18 months and includes options for extension, and it comes from Mack Real Estate Credit Strategies, according to the Commercial Observer.

The site at 30-77 Vernon Boulevard spans about 522,上海龙凤论坛

000 square feet. Cape Advisors and Wainbridge are planning a luxury five-building residential project with 770 affordable and market-rate apartments. Amenities include lounges, a rooftop deck and a fitness center.

Mack is expected to provide construction financing for Cape Advisors and Wainbridge on the project as well.

Cape Advisors purchased the site for $85 million from Shibber Khan s Criterion Group. It spans almost a full block and is right by the Astoria ferry stop. [CO] – Eddie Small

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