BHI Provides $65.34 Million Financing for 30-55 Vernon Boulevard, a Mixed-Use Development in Astoria, Queens

July 5, 2023

Source: BHI

NEW YORK, June 30, 2023 – BHI, a full-service commercial bank, announced that it has provided a $65,340,000 construction loan to NuVerse Advisors LLC to finance the development of 30-55 Vernon Boulevard, located in Astoria, Queens, New York.
Upon completion, 30-55 Vernon Boulevard will be a nine-story ground-up mixed-use development comprised of 121 residential units, two retail spaces, a community facility, and on-site parking. 

A prime corner waterfront site in the burgeoning Astoria enclave, 30-55 Vernon Boulevard is in close proximity to the Astoria Ferry Terminal as well as multiple subway stations and modes of public transportation. This vibrant area is also home to trendy culinary destinations, modern art, active retail, and a number of new mixed-use developments. 

“We appreciate the continued work of the CRE team at BHI. Their deep understanding of the area and our needs allowed for a personalized approach to a successful transaction,” said Stephen Saali, Managing Partner and Co-Founder of NuVerse Advisors LLC.

“The continued development of the Astoria waterfront area is incredibly exciting, and BHI is proud to be a part of 30-55 Vernon Boulevard, advancing our ongoing and valued relationship with NuVerse,” said Ilana Druyan, Head of International Origination, BHI. "This transaction underscores our continued strategic focus on multi-family growth and our enduring commitment to positively impacting the areas we serve.” 

About BHI 
BHI, the U.S division of Bank Hapoalim, Israel's leading financial institution, provides commercial banking solutions to middle market clients in sectors including commercial real estate; general, domestic and Israeli C&I; private equity; food and beverage; apparel; healthcare; corporate banking; and high-tech.  In addition to its New York headquarters, the bank operates U.S. Representative Offices in Woodcliff Lake, New Jersey; Miami, Florida; and Los Angeles, California. For more information, visit 

About NuVerse 
NuVerse Advisors LLC is a U.S. based investment firm specializing in real estate and credit investment throughout the United States and Europe. The firm has participated in over $5 billion of real estate investments ranging from New Developments to Real Estate Financing.