The package included a roughly $173.3 million mortgage from the Department of Housing Preservation and Development for 52-03 Center Boulevard, according to property records. The remaining $282.3 million in financing for that tower, which included bonds, was from the city’s Housing Development Corporation.
HDC also provided the tower at 52-41 Center Boulevard with about $245 million in financing, according to property records.
HPD commissioner Maria Torres-Springer said in a statement that the financing “marks a critical milestone in advancing Hunters Point South, a full-service community anchored in affordability and economic opportunity that is transforming the landscape of Long Island City.”
The tower at 52-03 Center Boulevard will stand 56 stories tall and span 776,624 square feet, making it the fourth largest project filed in 2017. The building at 52-41 Center Boulevard will be smaller, containing about 400 apartments across 384,000 square feet.
Additional lenders on the project include Wells Fargo, JPMorgan Chase, M&T Bank and PNC Bank, according to TF Cornerstone.
TF Cornerstone is also working on a new building in Long Island City at 38-21 12th Street for the city’s Department of Transportation and planning a $925 million megaproject along the neighborhood’s waterfront at 5-40 and 4-99 44th Road.
This story has been updated with additional information from property records and HPD.