Cord Meyer Development finds financing for 145-unit project

First a bowling alley, next a parking lot? Matthew Whalen’s firm is embarking on another unconventional Queens development. Cord Meyer Development scored a $75 million construction loan for a multifamily project above the parking area of the Bay Terrace Shopping Center, the Commercial Observer reported. New York Life Real Estate Investors provided the financing for the Residence at Bay Terrace. An Avison Young team including Scott Singer, Andy Singer and Kevin Swartz arranged the debt. Plans call for two five-story buildings with a combined 145 units, ranging from one- to three-bedroom layouts. Amenities at the property will include rooftop terraces […] This article originally appeared on The Real Deal. Click here to read the full story.