Chris Xu of United Construction & Development Group has secured a $57.5 million loan for a mixed-use development site at Janet Place in Flushing, Queens. Cushman & Wakefield arranged the financing thru ACORE Capital. The waterfront site offers approximately 780,446 buildable square feet and can accommodate a mix of residential, retail, and office uses. “Large land acquisition loans are very difficult to close in the current market environment. However, given our broad base of lender relationships in this space and our client’s strong reputation in the market, we had several competing offers,” said Morris Betesh, Cushman & Wakefield.
