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RJ Capital and RB Realty Close $65M Loan for Queens Luxury Condos

The developers received the construction financing from Naftali Credit Partners to build a 74-unit luxury residential project in Forest Hills, Queens.

107-02 Queens Blvd., Forest Hills. Queens 107-02 Queens Blvd., Forest Hills. Queens

NEW YORK CITY—Building a 10-story, 47-unit luxury condominium at 107-02 Queens Blvd. in the Forest Hills neighborhood of Queens is scheduled to begin this month. RJ Capital Holdings headed by Rudy Abramov and RB Realty Capital led by Avi Matatov closed on a $65 million construction loan.

Naftali Credit Partners underwrote and offered a full stack loan, while also helping source CIT Bank as the senior mortgage lender. The high-yield debt fund focuses on originating mezzanine loans on transitional real estate assets and is a subsidiary of the New York City-based real estate development firm Naftali Group.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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