RXR Realty scores $53.9M loan for Village Square project in Glen Cove

RXR Realty won financing from from M&T Bank for the developer’s Glen Cove mixed-use development project called Village Square, Long Island Business News reported. The bank provided a $53.9 million construction-to-permanent mortgage loan. When finished, the 2.8-acre Village Square will have 146 rental apartments, 17,500 square feet of retail space. The project is near RXR’s $1 billion Garvies Point development, which is also under construction. That project will transform 60 acres of industrial sites to 1,100 homes, with about 75,000 square feet of retail and office space and 28 acres of waterfront parks. [LIBN]