Goodman Capital Finances Radiant Condo Project
A $39.5 million senior loan secured by unsold units supports the 117-unit Radiant development in Long Island City, Queens.
Updated on Nov. 2, 2026 in Commercial
Goodman Capital provided a $39.5 million senior loan on New Empire Group's Radiant condominium project in Long Island City, while JEMM Capital Partners supplied a $4.2 million mezzanine loan to refinance past debt. New Empire Group obtained $43.7 million in total condominium inventory financing for the project.
Why it matters
The financing gives the sponsor time and flexibility to sell the remaining residences at full value, according to the extraction. The deal shows lenders continuing to back condominium inventory in New York City's Queens market.
The financing totals $43.7 million, including a $39.5 million senior loan secured by the developer's unsold condos and a $4.2 million mezzanine loan refinancing past debt. The 19-story, 117-unit building at 24-01 Queens Plaza North was completed in June.
The players
Goodman Capital
Goodman Capital is a lender that provided the $39.5 million senior loan secured by the developer's unsold condominiums.
JEMM Capital Partners
JEMM Capital Partners is a lender that provided the $4.2 million mezzanine loan refinancing past debt on the Radiant project.
New Empire Group
New Empire Group is the developer behind the Radiant condominium project in Long Island City.
The details
Apex Capital negotiated the financing with a team led by Vincent Martucci and Sana Khaliq. The Radiant building, designed by ODA New York, sits steps from the Queensboro Plaza subway station and offers a fitness center, indoor basketball court, billiards room, sauna, golf simulator and rooftop terrace.
Timeline
The Radiant project was completed in June.
The financing deal was reported by Commercial Observer on November 2, 2026.
Market Landscape
The deal is one example of the inventory-financing structures lenders use to carry unsold condominiums through final sales in New York City. It reflects how developers in Queens are using senior and mezzanine debt to sell remaining units at full value.
For prospective buyers in Queens, the financing signals that the developer has capital to close out remaining units. Buyers considering condos in the Radiant building near Queensboro Plaza can expect amenities including a fitness center and rooftop terrace.
The takeaway
Developer financing structures like this one can determine how quickly remaining condo units reach buyers. Prospective buyers in New York City can watch lending activity on new developments as an indicator of inventory movement.
Further reading
Explore more New York City Commercial coverage for context on local property financing.
Source note: This article includes information reported by Commercial Observer.
