45-40 Vernon Boulevard

Project Overview

Transaction Challenges:

The project involved the adaptive reuse of the historic Paragon Paint Building, requiring a lender comfortable with complex construction logistics and preservation elements. Additionally, securing competitive financing for a ground-up luxury condominium in a shifting market presented challenges, especially given the need for support through both acquisition and construction phases. Balancing the project's high-end residential ambitions with the realities of evolving market demand in Long Island City required a strategic and flexible capital partner.

Transaction Challenges:

The project involved the adaptive reuse of the historic Paragon Paint Building, requiring a lender comfortable with complex construction logistics and preservation elements. Additionally, securing competitive financing for a ground-up luxury condominium in a shifting market presented challenges, especially given the need for support through both acquisition and construction phases. Balancing the project's high-end residential ambitions with the realities of evolving market demand in Long Island City required a strategic and flexible capital partner.

Transaction Challenges:

The project involved the adaptive reuse of the historic Paragon Paint Building, requiring a lender comfortable with complex construction logistics and preservation elements. Additionally, securing competitive financing for a ground-up luxury condominium in a shifting market presented challenges, especially given the need for support through both acquisition and construction phases. Balancing the project's high-end residential ambitions with the realities of evolving market demand in Long Island City required a strategic and flexible capital partner.

ArrowREA Solution:

Arrow Real Estate Advisors executed a targeted marketing process to identify a lender aligned with the vision and unique challenges of the project. By highlighting the project’s design, location, and strong sponsorship Arrow secured $125 million in construction financing. The financing was structured to support both acquisition and construction, enabling a seamless transition and positioning the development for long-term success in one of NYC’s fastest-evolving neighborhoods.

ArrowREA Solution:

Arrow Real Estate Advisors executed a targeted marketing process to identify a lender aligned with the vision and unique challenges of the project. By highlighting the project’s design, location, and strong sponsorship Arrow secured $125 million in construction financing. The financing was structured to support both acquisition and construction, enabling a seamless transition and positioning the development for long-term success in one of NYC’s fastest-evolving neighborhoods.

ArrowREA Solution:

Arrow Real Estate Advisors executed a targeted marketing process to identify a lender aligned with the vision and unique challenges of the project. By highlighting the project’s design, location, and strong sponsorship Arrow secured $125 million in construction financing. The financing was structured to support both acquisition and construction, enabling a seamless transition and positioning the development for long-term success in one of NYC’s fastest-evolving neighborhoods.