Real Estate

Starwood, Blackstone Are Financing a New NYC Residential Tower

Rendering for a 46-story residential tower at 30-25 Queens Blvd. in Long Island City.Source: CetraRuddy Architects

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By Natalie Wong

June 30, 2025 at 7:30 AM EDT

Starwood Capital Group and Blackstone Inc. are part of a group lending $389 million to build a residential tower in New York’s Long Island City neighborhood.

Plans for the 46-story skyscraper call for 451 rental apartments and 110 for-sale condos on a site that’s about a 15-minute subway ride to midtown Manhattan. Baron Property Group and LargaVista Cos. are developing the project at 30-25 Queens Blvd., which is slated for completion in 2028.