Wells Fargo And Fannie Mae Provide $115 Million Loan To Henry Elghanayan's Rockrose Development

The asset involved in this transaction is a multi-family property located at 43-10 Queens Street in Long Island City. The loan amount for this project is $115,000,000. This financing is part of the 301-unit Phase II of the Eagle Lofts Collection, developed by Rockrose Development.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $115,000,000
• Lender: Wells Fargo & Fannie Mae
• Landlord: Henry Elghanayan - Rockrose Development
• Brokers: Scott Singer, Andrew J. Singer, Kevin Swartz & Kathleen McSharry - Avison Young

The financing was arranged by Avison Young, facilitating the transaction for Rockrose Development's significant project in the Long Island City market. Key individuals involved include Henry Elghanayan, representing the landlord, and the brokerage team from Avison Young, comprising Scott Singer, Andrew J. Singer, Kevin Swartz, and Kathleen McSharry.