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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.”
- ◦Financing