QUEENS, N.Y. — New York and Miami-based real estate developers Baron Property Group (BPG) and LargaVista Cos. have secured a $388.5 million construction loan for 30-25 Queens Boulevard, a 46-story mixed-use high-rise in Long Island City.
Starwood Capital Group, Gotham Organization and Blackstone Real Estate Debt Strategies provided the financing. Ayush Kapahi, principal and founding partner at commercial real estate advisory HKS Real Estate Advisors, and Anthony Ledesma, principal and founding partner of real estate advisory firm DIA Capital Group, arranged the loan. Construction, currently underway, on 30-25 Queens Boulevard is slated for completion in early 2028. According to media reports, developers broke ground in 2023 then paused construction activity.
Of the 561 residences, 451 will be rentals, and the remaining 110 units will be for-sale condos. Floor plans range from studios to two-bedrooms. The development will also include 21,000 square feet of ground-floor retail. Architecture firm CetraRuddy designed the project.
BPG and LargaVista have partnered once before for the development of The Park Overture, a rental property that was completed in fall 2024 in the Washington Heights neighborhood of Manhattan.