**LIC Rental and Condo Tower Secures $388.5 Million in Construction Financing**
Baron Property Group (BPG) and LargaVista Companies have secured $388.5 million in construction financing for their latest project at 30-25 Queens Boulevard, a 46-story mixed-use residential tower in Long Island City. The financing was jointly provided by Starwood Capital Group, Gotham Organization, and Blackstone Real Estate Debt Strategies.
Ayush Kapahi, principal and founding partner at commercial real estate advisory firm HKS Real Estate Advisors, and Anthony Ledesma, principal and founding partner of boutique advisory firm DIA Capital Group, facilitated the deal.
“This construction financing represents a significant step forward for our team and reinforces our dedication to delivering innovative projects in thriving neighborhoods,” said Matthew Baron, founder and president of Baron Property Group.
The 30-25 Queens Blvd. project marks the second collaboration between BPG and LargaVista Companies. The two firms previously partnered on The Park Overture, a rental development in Washington Heights that was completed in Fall 2024.
Once completed, the new development will introduce over 500 rental and condominium residences along with new retail space to Long Island City. Construction is expected to be completed by early 2028.
