New York and Miami-based real estate developers Baron Property Group (“BPG”) and LargaVista Companies secured $388.5 million in construction financing for 30-25 Queens Boulevard, a highly anticipated, 46-story mixed-use residential skyscraper being developed in the heart of Long Island City, Queens.
The development will bring over 500 rental and condominium homes and new retail space to the vibrant neighborhood. Starwood Capital Group, Gotham Organization and Blackstone Real Estate Debt Strategies provided the financing. Ayush Kapahi, principal and founding partner at commercial real estate advisory HKS Real Estate Advisors (“HKS”), and Anthony Ledesma, principal and founding partner of boutique real estate advisory firm DIA Capital Group, facilitated the deal. Construction on 30-25 Queens Boulevard is slated for completion in early 2028.
“This construction financing represents a significant step forward for our team and reinforces our dedication to delivering innovative projects in thriving neighborhoods,” said Matthew Baron, Founder and President of Baron Property Group. “With its striking design by CetraRuddy and variety of curated amenities, 30-25 Queens Boulevard will offer an exceptional lifestyle experience and contribute to the continued evolution of Long Island City.”
“CetraRuddy has meticulously designed a masterpiece with stunning unobstructed views of Manhattan that will set the standard for living in Long Island City. We are excited and proud to build upon the rich tapestry of this dynamic community,” added Marcello Porcelli, CEO of LargaVista Companies. 30-25 Queens Boulevard marks the second collaboration between BPG and LargaVista, following the success of their Washington Heights rental development, The Park Overture, which was completed last fall.
In addition to luxuriously appointed homes, residents of 30-25 Queens Boulevard will enjoy an exceptional amenity collection designed for wellness, convenience and entertainment. Highlights include a rooftop pool, regulation-size basketball and pickleball courts, a content creation and recording studio, state-of-the art fitness and movement studios, private outdoor terraces with grilling stations, and a solarium with a kitchen and dining space. Additional features range from a pet spa and sports simulator to co-working lounges and a game room. These amenities are further enhanced by thoughtful elements, such as a smart package room and ample bicycle storage.
“Securing a deal of this scale in today’s capital markets environment required collaboration, structure and a shared belief in the strength of this development despite market volatility,” said Ayush Kapahi. “HKS is glad to have played a role in advancing a project that will bring long-term vitality and innovation to Long Island City.”
“This transaction required precise execution across joint venture formation and capital alignment — a reflection of the strategic discipline and conviction behind a hallmark development for all parties involved,” added Anthony Ledesma of DIA Capital Group.
30-25 Queens Boulevard sits in the heart of one of New York City’s most well-connected neighborhoods, offering direct access to Manhattan via multiple subway lines. The vibrant residential community offers an eclectic mix of restaurants and cafes surrounded by parks, bicycle paths and cultural institutions. Benefitting from an ongoing development boom and a flourishing creative community, Long Island City continues to grow as a central hub for professionals and artists alike.
