Q-Real Estate Ptrs. secures $20.85m in construction financing

Q-Real Estate Partners, LLC has secured $20.85 million in construction financing for Latitude, a new 53-home luxury residential condominium it is developing in New York City's Riverdale District. The New York City-based residential and commercial owner and developer received the loan from Bank Leumi USA, a full-service commercial bank that provides financial services to middle and upper-middle market firms, international businesses and not-for-profit organizations and U.S. and international private banking clients, according to Robert Quaco, principal of Q-Real Estate Partners, LLC. The financing will be used for development and construction of the two seven-story Latitude buildings located at the corner of Riverdale Ave. and 236th St. Andres Escobar, a leader in interior design for more than 20 years who is responsible for award-winning work throughout the world, has made his Riverdale debut with striking home interiors and common spaces at Latitude. Residents of Latitude will also enjoy a wide range of lifestyle enriching amenities including a gym, rooftop terraces on both buildings, a children's playroom, attended doorman and Cyberdoorman service, and optional deeded parking.