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New York & Tri-State  + Outer  + Finance  | 

Naftali Lines Up $65M Construction Debt on Forest Hill Condos

Naftali Credit Partners, a subsidiary of Naftali Group, has announced the closing of a $65-million construction loan for 107-02 Queens Blvd. in the Forest Hills section of Queens.

The sponsor for the loan is a partnership between RJ Capital Holdings, headed by Rudy Abramov, and RB Realty Capital, headed by Avi Matatov.

The offering for the 10-story, 74-unit luxury condominium project in Forest Hills is the second by Naftali Credit Partners. The firm underwrote and provided terms on the full financing request, offering a full stack solution to the borrower, while also helping source CIT Bank as the senior mortgage lender.

“Our ability to move quickly and understand the many nuances of development provides a competitive advantage in executing complicated transactions in an increasingly dislocated transitional lending space,” said David Hochfelder, Naftali Group’s EVP of acquisitions & capital markets.

Construction on the project is set to begin this month.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Development
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