JAMAICA, N.Y. — Dwight Mortgage Trust has provided a $148 million loan for the construction of Sutphin II, a 524-unit mixed-income project in Jamaica, roughly 15 miles east of New York City. Steven Hersko of the SHB Group arranged the financing on behalf of the developer, a partnership led by Moshe Braver.
The 24-story building will offer 366 market-rate residences and 158 affordable housing units. Income restrictions for the affordable units were not disclosed. Upon completion, however, Sutphin II will quality for a 35-year 421-a tax abatement and Brownfield Redevelopment Tax Credits. A construction timeline was also not disclosed.
Units will come in studio, one-, two- and three-bedroom floor plans. Amenities will include rooftop space, gym and yoga studio, business center, game room, theater, resident lounge, children’s playroom, pet spa and library. The property will also include 7,750 square feet of ground-floor retail space and a parking garage.