X
Upcoming Stories
New York & Tri-State CRE News In Your Inbox .

New York & Tri-State   /   March 13, 2019

Paul Bubny
By: Paul Bubny

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.

Connect
Inside The Story
About the Author

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
Email the Author

New call-to-action
© ConnectCRE 2021 / 3900 San Fernando Road, Suite 1007, Glendale, CA 91204
Contact Us / Policies, Privacy & DisclosuresSubmit Press Release / 
magnifiermenu