Arrow Real Estate Advisors arranged $9,600,000 in acquisition financing on behalf of Century Development Group for the purchase of two adjacent development parcels located at 144-32 and 144-36 Northern Blvd. in Flushing, Queens. The loan was provided by Israel Discount Bank, and the transaction was led by founder and managing partner Morris Betesh, SVP Omar Ferreira and associate Jacob Petrovic.
“Executing land acquisitions on tight timelines requires certainty of capital and strong lender alignment,” said Betesh. “Century Development Group moved decisively on a well-located site along Northern Boulevard, and our role was to ensure the financing kept pace with their strategy. We were pleased to deliver a solution that allowed the Sponsor to close efficiently and focus on advancing their development plans.”
The site features prominent frontage along Northern Boulevard. Following the acquisition, Century Development Group plans to advance site plan approvals in preparation for a future development.
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