BRP pulls off $323.6M loan to build Jamaica resi complex

The two buildings would hold 669 apartments

TRD New York /
Jan.January 31, 2017 06:00 PM

The Crossing at Jamaica Station (credit: FXFOWLE) and Meredith Marshall

BRP Companies scored $323.6 million from the New York City Housing Development Corporation to build a 669-unit apartment complex in Queens.

The city provided $259.2 million for 147-40 Archer Avenue, where BRP TRData LogoTINY plans to build a 26-story, mixed-income property with 539 units, according to documents filed with the city on Tuesday. The developer received another $64.4 million for 148-10 Archer Avenue, a 14-story building with 130 low-income units. FXFOWLE is designing both buildings.

The project, known as the Crossing at Jamaica Station, is expected to include 681,957 square feet of residential space, 24,969 square feet of commercial space and 20,212 square feet for a community facility. In the taller building, the first floor will hold retail space, while a church will occupy the two-story base of the shorter property.

Representatives for HDC didn’t immediately return requests seeking additional information. A spokesperson for BRP said that the financing for the project — both from the city and other sources — totals $406 million.

 BRP purchased the development site from the nonprofit Greater Jamaica Development Corporation in June 2015 for $19.5 million.

In December, BRP agreed to build 38 low- to moderate-income apartments at a formerly deed-restricted site in Harlem.


Correction: An earlier version of this story misstated the planned square-footage of the project, due to a discrepancy in Department of Buildings filings. The article also misstated the loan amount: It’s $323.6 million. 

Related Articles

109-09 15th Avenue, 5 Court Square, 24-16 Queens Plaza South in Queens (Credit: NestSeekers and StreetEasy)

Big dollar drop in Queens top 10 condo filings this year

Amazon CEO Jeff Bezos and RXR CEO Scott Rechler with 56-19 Grand Avenue in Queens (Credit: Getty Images, Google Maps)

Amazon nears lease at RXR’s Queens warehouse development

131-01 39th Avenue in Flushing and Alchemy ABR’s Kenneth Horn with 123-141 West 57th Street (Credit: Alchemy ABR and Google Maps)

Flushing project bigger than November’s next five largest combined

A&E Real Estate Holdings principal Douglas Eisenberg and the properties along Queens Blvd and 65th Avenue (Credit: The Rego Park 18 Portfolio)

A&E Real Estate buys huge rent-stabilized portfolio at deep discount

131-01 39th Avenue in Flushing (Credit: Google Maps)

Another megaproject coming to Flushing

Queens, New York

Here are the neighborhoods where homes are flying off the shelf

There will be 70 agents based at the new office (Credit: iStock)

Compass opens Long Island City office as new-development sales surge

Long Island City, Queens (Credit: iStock)

Queens sale prices set record despite signs of trouble