Columbia Pacific Advisors Bridge Lending, a platform within Columbia Pacific Advisors, provided a $15-million loan to refinance 142-26 and 142-38 Roosevelt Ave. in Queens’ Flushing neighborhood.
Eastone Equities is planning to develop an eight-story mixed-use residential building over two floors of subterranean parking on the 16,370-square-foot site, currently occupied by a variety of retail and office tenants.
Located in the heart of Chinatown in Queens, the development project is expected to provide over 40,000 square feet of livable space and 33,000 square feet of commercial space to serve growing consumer demand in the neighborhood. Construction is scheduled to commence in summer 2022.
“142-26 and 142-38 Roosevelt Ave. are highly desirable, contiguous parcels located in the core of Flushing, allowing for an uplift in FAR that provides a unique development opportunity to significantly enhance the neighborhood,” said Eric Jordan, SVP of real estate lending at Columbia Pacific.
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).