Circle F Refis LIC Retail Condo Leased to Trader Joe’s
Newmark has arranged a $20.3-million loan on behalf of Circle F Capital to refinance 2243 Jackson Ave., a recently completed retail condominium in Long Island City. The Newmark team was led by Dustin Stolly and Jordan Roeschlaub, co-heads of Newmark’s New York Debt & Structured Finance team, along with senior managing director Daniel Fromm. The 10-Year fixed rate CMBS loan was provided by Ladder Capital.
The retail condo features 14,600 square feet of ground-floor retail and 11,400 square feet below grade. The majority of the ground floor is leased to Trader Joe’s.
“This location is a triumph for both Trader Joe’s and Circle F Capital,” said Stolly. “Located just one block from the 7-train with access to Midtown in minutes and surrounded by thousands of apartment units delivered in just the last few years, this property is poised to be one of the city’s best positioned retail assets.”
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. 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 15-20 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).
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