KS Group secured 300 m in construction financing from S3 Capital to revive the long-stalled Astoria Cove project in Queens’ Hallets Point. KS, which joined the project in September, contributed 62 m in equity. The first phase includes four buildings with 736 apartments and 318 parking spaces, alongside a completed 141-unit building. KS is pursuing a 95 m land deal and 450 m loans for two additional phases, ultimately delivering 2,800 units and 30,000–50,000 square feet of commercial space. The project, with 30% affordable housing, is expected to exceed 2 b in costs.
KS Group
