Douglaston Development gets $75M construction loan for 188-unit project in Tremont

Douglaston Development through the entity JELB Webster Senior LLC as borrower signed a loan agreement with lender New York State Housing Finance Agency valued at $75.6 million for 1 parcel, including the tax class one-story store building (K1) at 2856 Webster Avenue in Tremont. The deal closed on December 17, 2020 and was recorded on February 8, 2021.

Jed Resnick was the signatory for the borrower.  Douglaston signed a 99-year ground lease with the New York Botanical Garden for these parcels last year.  Douglaston is developing a 12-story residential building with 188 units.
Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $50,060.

There has been one new building permit application Those plans include a total of 188 residential units.

There has been one demolition project filed for the parcels over the past five years.

Direct link to Acris document. link