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.                            

Eastern Consolidated Helps Refinance Property in Historic Neighborhood

Jonathan Aghravi, a senior partner at Eastern Consolidated, has been active in commercial real estate negotiations and investments for nearly 10 years. Since establishing the Capital Advisory Division, Jonathan Aghravi continues to help partners design capital solutions to leverage existing assets and expand business.

In one of the most recent transactions headed by Eastern Consolidated, Mr. Aghravi was able to secure a $3.75 million loan to refinance 162 Montague Street. A five-story building housing residential, office, and retail spaces, the property is located in the heart of the Brooklyn Heights neighborhood. As the first neighborhood in New York City to receive the distinction of being classified a Historic District, Brooklyn Heights boasts rustic charm with several rows of brownstone and carriage houses, many of which were built in the early 19th century. The area has appealed to countless famous writers and artists such as Truman Capote, Walt Whitman, Salvador Dali, and more. The loan negotiated by Eastern Consolidated provided the resources to refinance the property and will also allow for renovations in the near future.

Located in the heart of New York City and possessing a staff fluent in 15 languages, Eastern Consolidated helps partners capitalize on growth opportunities through customized financial solutions and leveraged negotiations. To learn more about the portfolio of retail properties managed by Eastern Consolidated, visit www.easternconsolidated.com/properties/.                            

Recent Eastern Consolidated Capital Advisory Group Transactions

As senior director of capital advisory with Eastern Consolidated in New York City, Jonathan Aghravi provides capital solutions that optimize lending institution and real estate investment relationships. Transactions Jonathan Aghravi has completed since starting the firm’s Capital Advisory Group include a $6.25 million cash-out refinance on behalf of a foreign investor group in June 2014. This mortgage on a mixed-use property on Church Street in Manhattan has had a positive impact, in freeing up capital that can be utilized for other investment projects.

The following month, Mr. Aghravi closed a $7 million loan with Investors Bank for refinancing a mixed-use property at 3612 Broadway in Manhattan. The terms for this mixed-use property refinancing were optimized to ownership group requirements. In July 2014, Mr. Aghravi placed a $3.7 million loan that will refinance a mixed-use property in Brooklyn’s Boerum Hill neighborhood. In addition to refinancing the existing note, this transaction enables needed upgrades, such as unit renovations, to proceed.