Midtown East-based Adam America Real Estate and Shenzhen-based Vanke have secured $98.5 million in construction financing for their 11-story, 182-unit mixed-use project under development at 22-12 Jackson Avenue, located in the Court Square section of Long Island City. Tel Aviv-based Bank Leumi provided the provided the loan.
The latest building permits indicate the project will encompass 224,327 square feet and rise 120 feet to its upper rooftop. There will be 182 condominium residences across the second through 11th floors. The apartments should average 906 square feet apiece. There will also be 5,018 square feet of ground-floor retail space.
ODA New York is the design architect and Issac & Stern Architects is listed as the architect of record. Excavation work is currently underway and the project is expected to be complete in late 2019, The Real Deal reported.