Eastern Consolidated Obtains Financing for Property in Flushing

After joining Eastern Consolidated in 2013, Jonathan Aghravi quickly became a managing director of the company’s capital advisory division. Jonathan Aghravi utilizes extensive experience in real estate and financing to secure ideal capital solutions for clients.

Under the direction of Mr. Aghravi, the Eastern Consolidated capital advisory division negotiated a $42 million bridge loan for Triple Star Realty, LLC, to fund the purchase of a property in Flushing, New York. Triple Star Realty purchased the 100,000-square-foot building for more than $90 million.

Triple Star Realty plans to build a 632,000-square-foot mixed-use waterfront complex that features a 200-room hotel, 360 residential condos, retail space, and a supermarket. The project is currently in the pre-development stage, and the Queens-based company will pursue project financing before launching construction, which is projected to last three years.