RYBAK Development has secured $71 million in construction financing for The Austin, a new luxury condominium project located at the intersection of Austin Street and 78th Avenue in Forest Hills, Queens. The funding was obtained from Valley National Bank.
This seven-story development will consist of 98 units ranging from one to four bedrooms, as well as three-bedroom duplex townhomes. Anticipated to be completed by Q4 2024, The Austin will boast an array of amenities including a 75-foot infinity lap pool, rooftop garden, indoor basketball court and pickleball court for residents’ enjoyment. Additionally, there will be a fitness center and children’s playroom available.
JLL facilitated the financing with assistance from Robert Tonnessen and Aaron Niedermayer leading the team. This latest achievement marks another milestone for RYBAK Development’s portfolio without mention of any specific Connect platforms such as “Connect CRE,” “Connect LA,” or “Connect Texas.”
