Project Overview
Project Overview
Project Overview
Location
45-40 Vernon Boulevard, Long Island City, Queens, NY
Location
45-40 Vernon Boulevard, Long Island City, Queens, NY
Location
45-40 Vernon Boulevard, Long Island City, Queens, NY
Number of Units
190 residential units across 23 stories
Number of Units
190 residential units across 23 stories
Number of Units
190 residential units across 23 stories
Budget
$125,000,000
Budget
$125,000,000
Budget
$125,000,000
Asset Tyoe
Luxury Residential Condominium with Retail Component
Asset Type
Luxury Residential Condominium with Retail Component
Asset Tyoe
Luxury Residential Condominium with Retail Component
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.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.