Miki Naftali And David Hochfelder Provide $125M Construction Loan For Development Site In Forest Hills

The property involved in the transaction is a development site located at 70-28 Grand Central Parkway in Forest Hills. The site has a buildable square footage (BSF) of 250,000 and is associated with a construction loan totaling $125,000,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $125,000,000
• Address: 70-28 Grand Central Parkway
• Market: Forest Hills
• Asset Type: Development Site
• Buildable Square Footage: 250,000
• Lender: Miki Naftali, David Hochfelder, Glenn Grimaldi - Naftali Credit Partners; Josh Zegen - Madison Realty Capital
• Landlord: Rudy Abramov & Michael Abramov - RJ Capital Holdings
• Broker: Morris Betesh - Arrow Real Estate Advisors

The deal involves key individuals including Miki Naftali, David Hochfelder, and Glenn Grimaldi who represent Naftali Credit Partners, while Josh Zegen represents Madison Realty Capital. The landlords, Rudy Abramov and Michael Abramov, are associated with RJ Capital Holdings, with Morris Betesh acting as the broker from Arrow Real Estate Advisors.