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Werber Receives $61.5 Million Loan for Jackson Heights Development

Werber Real Estate is building a 15-story, mixed-use development, called Roosevelt Parc, in Queens.

By Betsy Kim | Updated on November 14, 2017

Architectural rendering of Roosevelt Parc in Jackson Heights, Queens

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.

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