FSA Capital's Flushing development scores $89M loan

FSA Capital, a prominent developer in the real estate industry, has secured an $89 million loan for their latest project in Flushing, Queens. The loan, provided in part by Ponce Bank, will go towards the construction of a mixed-use development at 133-09 37th Avenue. The documents were signed on June 23 and officially recorded on July 3.

The planned development in Flushing has been a source of controversy within the community, with concerns over the impact it will have on the already congested neighborhood. However, FSA Capital remains determined to move forward with their project, which is set to include residential units and commercial space.

According to sources close to the project, FSA Capital has been able to secure the loan due to their close connections with Ponce Bank. This has raised questions about potential conflicts of interest and the influence of money in the real estate industry.

In response to the loan, a spokesperson for FSA Capital stated, "We are grateful for the financial support from Ponce Bank and are excited to bring this development to fruition. We are confident it will bring great value to the Flushing community."

However, critics of the project argue that it will only benefit FSA Capital and their associates, rather than the community as a whole. Despite these concerns, FSA Capital's Flushing development is moving forward with the backing of a significant loan.

https://therealdeal.com/new-york/2025/07/08/fsa-capitals-flushing-development-scores-89m-loan/