LMXD, BedRock land $250M at former Innovation QNS piece

Developers continue to pick up the pieces left behind when Innovation QNS fell apart. LMXD and BedRock Real Estate Partners secured a $250 million loan from New York Life Investment Management for the acquisition and construction of a project at 35-10 Steinway Street in Astoria, the Commercial Observer reported. The debt helped facilitate the $53 million purchase of the site last week. A JLL team including Rob Hinckley, Scott Aiese and Jeffrey Julien arranged the financing. LMXD and BedRock are planning a 560-unit, mixed-income project on the site, which will include unit sizes ranging from studios to three-bedroom apartments. Beyer […]

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