News April 28, 2022

Madison Realty Capital Originates $90 Million Loan for Mixed-Use Development in Flushing, Queens

Madison Realty Capital has originated a $90 million loan to 37 Ave Richouse LLC., for a mixed-use development in the Flushing neighborhood of Queens, New York. Located at 133-25 37th Avenue in Downtown Flushing, the property will include 150 residential condominium units, 202 hotel keys, 23,000 square feet of ground floor and below-grade retail and 300 parking spaces. The 263,151 square foot property will feature two joined buildings rising 16 stories and nine stories set on a retail podium adjacent to the mixed-use Tangram Complex which offers cutting-edge retail, residential, office and hotel space. The property will include a garden courtyard, fitness facility, lounge area, outdoor terraces and residences ranging from studios to three-bedroom units.