NEW YORK CITY—Werber Real Estate is constructing Roosevelt Parc, a 15-story, transit-oriented, mixed-use development in Jackson Heights, Queens, with Socius Development Group. Werber received a $61.5 million construction loan to develop property consisting of 154 residential rental units, 16,557 square feet of retail space, 23,074 square feet for a community facility, and a 186-space parking garage.
Located at 71-17 Roosevelt Ave. with the residential entrance at 37-46 72nd St., the project is within one block of the Jackson Heights – Roosevelt Avenue subway station, which is the second busiest train station outside of Manhattan. The transit-oriented project is also within two miles of the Brooklyn-Queens Expressway, Grand Central Parkway and Long Island Expressway.
Holliday Fenoglio Fowler secured the floating-rate construction loan through Principal Global Investors. The HFF team included managing director Steven Klein and senior director Geoff Goldstein.
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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.
