45-40 Vernon Boulevard

45-40 Vernon Boulevard

Location:

New York

Location:

New York

Location:

New York

Area:

192,500 sq. ft.

Area:

192,500 sq. ft.

Area:

192,500 sq. ft.

Year:

2025

Year:

2025

Year:

2025

Type:

Mixed-Use

Type:

Mixed-Use

Type:

Mixed-Use

45-40 Vernon Boulevard

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.