Maxim Capital Supplies $40M Acquisition Loan for Queens Development Site

United Construction and Development Group has landed $40 million of acquisition financing to purchase a Rego Park, Queens, development site to build a mixed-use multifamily project, Commercial Observer has learned.

Maxim Capital Group provided the loan for United’s acquisition of 93-30 93rd Street, which spans nearly 140,000 square feet and offers roughly 670,000 of buildable square feet, according to Meridian Capital Group, which brokered the deal. The developer plans to build three high-rise residential towers totaling 706 units along with 200,000 square feet of commercial space and 806 parking spaces at the empty lot adjacent to the Rego Center shopping mall.