Updated Apr 15, 2026
Morris Betesh, Omar Ferreira & Jacob Petrovic Of Arrow Real Estate Advisors Secures $9M Acquisition Loan For Development Site In Long Island City
10-38 45th Road
$9,000,000
Building Size
—
Asset Type
Development Site
Closing
Feb 18, 2026
About this deal
AI
The property involved in this transaction is a development site located at 10-38 45th Road in Long Island City. This asset is part of a market that supports substantial development opportunities, reflecting a loan amount of $9,000,000 for acquisition purposes.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $9,000,000
- Market: Long Island City
- Loan Type: Acquisition
- Landlord's Representative: Morris Betesh, Omar Ferreira & Jacob Petrovic - Arrow Real Estate Advisors
The individuals representing the landlord in this deal are Morris Betesh, Omar Ferreira, and Jacob Petrovic, who are affiliated with Arrow Real Estate Advisors. Their involvement is crucial in facilitating the acquisition loan for the development site.
On the Map
$9,000,000
Development Site
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Players
Long Island City Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93