Dwight Mortgage Trust Lends $148M on Jamaica, Queens, Resi Tower
By Andrew Coen February 4, 2025 5:47 pm
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Developer Moshe Braver has secured $148 million of construction financing to build a 24-story multifamily building in Jamaica, Queens, Commercial Observer has learned.
Dwight Mortgage Trust, the affiliate real estate investment trust of Dwight Capital, supplied the loan for the second phase of Braver’s 524-unit at 147-35 95th Avenue close to Long Island Rail Road’s Jamaica station.
SHB Group’s Steven Hersko arranged the transaction.
The development will consist of 366 market-rate apartments and 158 units designated as affordable housing. The project will qualify for a 35-year 421a tax abatement and brownfield redevelopment tax credits upon completion, which is slated for late 2025.
Braver’s project previously received a $142 million construction loan from Scale Lending in October 2023 for the development entity Sutphin Boulevard Equities, as CO first reported at the time.
The property’s amenities will include a parking garage, fitness center, yoga studio, business center, game room, theater, resident lounge, children’s playroom, pet spa and library. It will feature 7,750 square feet of ground-floor retail.
Braver and SBH Group did not immediately return requests for comment. Dwight Mortgage Trust declined to comment.
Andrew Coen can be reached at acoen@commercialobserver.com
