Cushman & Wakefield announced that the firm served as the exclusive advisor to BRP Companies in procuring $15 million in acquisition financing for 90-02 168th Street in Jamaica, Queens.
The interest only financing was provided by Turnbridge Real Estate Credit Strategies.
A Cushman & Wakefield Equity, Debt & Structured Finance team of Preston Flammang and Anthony D’Amelio represented BRP Companies.
“This project is going to be a fantastic addition to an already burgeoning neighborhood,” said Cushman & Wakefield’s Preston Flammang. “It was a pleasure working with both BRP and Turnbridge on the financing.”
Located in the heart of Downtown Jamaica, the site offers up to 738,000 buildable square feet of development potential.
The property is in a rapidly growing market with multiple new developments coming to the area, including The Crossing at Jamaica Station and the Mary Immaculate Hospital Redevelopment.
The area alsohas an abundance of retail options including Old Navy, Gap Outlet and The Home Depot. The property is accessible by the 169th Street Subway Station and multiple bus lines.