{"id":35200,"date":"2025-11-10T19:49:12","date_gmt":"2025-11-10T19:49:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/35200\/"},"modified":"2025-11-10T19:49:12","modified_gmt":"2025-11-10T19:49:12","slug":"eastern-union-secures-20-5m-to-refinance-new-54-unit-zoria-apartments-in-queens-borough-of-jamaica","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/35200\/","title":{"rendered":"Eastern Union Secures $20.5M to Refinance New 54-Unit Zoria Apartments in Queens Borough of Jamaica"},"content":{"rendered":"

\"Zoria<\/a>Completed in March, the site’s 54 units consist of 49 apartments, four retail units and a community facility unit. The 49 residential units include 35 one-bedroom\/one-bath units, twelve two-bedroom\/two-bath units, and two penthouse units that each have two bedrooms and two bathrooms.<\/p>\n

Eastern Union<\/a>, one of America\u2019s largest commercial real estate mortgage brokerages, has arranged $20.5 million for the refinancing of Zoria Apartments<\/a>, a new, 54-unit, mixed-use property located at 88-11 179th Place in the Queens borough of Jamaica, New York.<\/p>\n

The transaction was led by Alex Jaffa, a senior loan consultant with Eastern Union.<\/p>\n

Situated on the corner of Hillside Avenue, the eight-story Zoria Apartments is a brick building containing a gross building area of 56,473 square feet and a net rentable area of 45,847 square feet.<\/p>\n

The borrower was not identified. The lender was Wells Fargo.<\/p>\n

The loan carried a 5.98-percent interest rate over five years, with 30-year amortization and a swap breakage prepay.<\/p>\n

\u201cWith a brand-new building in lease-up and with loan maturity coming up, timing was everything for our client,\u201d said Mr. Jaffa. \u201cWe\u2019re pleased to have secured a lender who understood our client\u2019s unique needs and timeline, enabling us to begin and close this transaction while in lease-up mode.\u201d<\/p>\n

Building amenities include common laundry facilities on each of the upper floors, an outdoor recreation area on the third floor, and 25 parking spaces in an underground parking garage.<\/p>\n

Founded in 2001, Eastern Union is a leading national commercial mortgage brokerage company that has closed $12 billion in real estate transactions over the past three years. The firm employs more than 90 highly skilled brokers and real estate professionals. Eastern Union\u2019s capital introductions are handled through its affiliated company, Eastern Equity Advisors. Consistently putting their clients\u2019\u200b needs first, Eastern Union team members leverage their extensive knowledge of the commercial real estate marketplace to bring clients the best rates available. Eastern Union\u2019s experience enables the company to arrange financing for complex, multi-state, multi-site portfolios, as well as loans for smaller, single-property transactions. Eastern Union, which operates nationwide, is headquartered in New York, with offices in New Jersey and Maryland.<\/p>\n

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