L+M Development landed fresh capital for one of the city’s most ambitious coastal housing plays in Queens. A joint venture led by the developer landed $278 million in construction financing to build the first residential phase of Arverne East, a master-planned development poised to reshape a large stretch of Far Rockaway with affordable housing, Commercial Observer reported.  The deal funds Building D, a 320-unit project at 116 Beach 36th Street that kicks off a megaproject due to deliver 1,650 affordable apartments across 116 acres.  The sponsorship group goes well beyond L+M. Partners include Urbane Development, the Bluestone Organization, Mega Group […]

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