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Luxury Apartment Project in Queens Secures $265M Loan

LONG ISLAND CITY, NY-A consortium comprising Capital One, Bank of America, M&T Bank and Wells Fargo has offered $265 million loan to TF Cornerstone for the development of an 850-unit high-end apartment tower at 4545 Center Blvd in Queens.

By GlobeSt News Hub | Updated on December 05, 2011

LONG ISLAND CITY, NY-A consortium comprising Capital One, Bank of America, M&T Bank and Wells Fargo has offered $265 million loan to TF Cornerstone for the development of an 850-unit high-end apartment tower at 4545 Center Blvd in Queens. Bassuk Organization and The Singer represented TF Cornerstone in the deal.

Besides luxury residences, the 40-floor tower spanning roughly 800,000 square feet will have a 1,000-vehicle parking lot, a 55,000-square-foot outdoor space and a 12,300-square-foot retail space. For the full story, go to Commercial Property Executive .

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