**ERG Secures $7M Construction Loan for New Jamaica, Queens Multifamily Project**
ERG Commercial Real Estate has successfully arranged a $7 million construction loan for a new 16-story multifamily development at 166-13 91st Street in the Jamaica neighborhood of Queens, New York. The project will include 28 modern residential units.
The financing was provided by a national lender specializing in middle-market construction and bridge financing. Known for offering flexible and reliable capital solutions, the lender supports developers with projects that contribute to urban revitalization and housing expansion.
Construction on the development is slated to begin in February 2025. Once completed, the building is expected to enhance the residential offerings in Jamaica, an area experiencing increased demand for high-quality housing.
“ERG Commercial Real Estate’s expertise in navigating complex financing structures ensured a seamless process, aligning the needs of the developer with the lender’s criteria,” said Ryan Lewis, Managing Director at ERG.
The project marks a significant investment in the Jamaica neighborhood and reflects ongoing efforts to meet growing demand for residential space in Queens through thoughtful and well-financed developments.
