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Hanover Capital Refis Long Island City Retail Property With $26M Loan

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Hanover Capital Refis Long Island City Retail Property With $26M Loan By Andrew Coen March 26, 2026 4:12 pm reprintsVorea Group has landed a $25.8 million loan to refinance a newly developed retail asset in Long Island City, Queens, Commercial Observer has learned. Hanover Capital provided the loan for the developer’s 52,578-square-foot property at 10-04 Borden Avenue that opened in 2024. It’s cur...
**Steelman:** Vorea Group's strategic decision to develop a retail property in a high-visibility location near the Midtown Tunnel was validated by Hanover Capital's commitment to provide a $25.8 million loan. The property, fully leased by two experiential tenants (iFly and Vibe Fitness), showcases the value of well-located assets in densely populated urban areas. **Patterns detected:** ARC-0019 Specificity, ARC-0024 Ambiguity The article provides detailed information about the property, its loca...