Arrow Real Estate Advisors arranges $8.6 million acquisition financing for Alma Realty

Queens, NY Arrow Real Estate Advisors, a leading real estate finance advisory firm, has successfully arranged an $8.6 million loan from BCB Bank to finance the acquisition of 35-28 and 35-30 153rd Street in Murray Hill. The two adjacent six-story multifamily buildings total 110 rent-stabilized units across 108,499 s/f.

Alma Realty acquired the properties from Essen Realty Enterprises for $11.5 million, marking a strategic addition to its expanding Queens portfolio, which also includes the Astoria Cove waterfront development. The properties had been under long-term ownership since the 1980s and represent a rare value-add opportunity in a supply-constrained multifamily market.

“Securing financing for rent-stabilized multifamily assets in today’s market requires creativity, persistence, and the right relationships,” said Jacob Schmuckler, senior director at Arrow Real Estate Advisors. “We’re proud to have advised Alma Realty on this acquisition and partnered with BCB Bank to deliver the optimal capital solution. This transaction underscores Arrow’s ability to navigate challenging market conditions and deliver execution certainty for our clients.”

Arrow Real Estate Advisors brokers, Schmuckler, and Omar Ferreira, senior vice president, structured the financing during a period of heightened challenges for rent-stabilized assets. With lenders cautious due to regulatory pressures and limited rent growth, Arrow worked closely with BCB Bank to address sensitivities around stabilized cash flow and long-term asset value. Arrow’s broad experience in complex multifamily transactions, enabled it to secure favorable terms for Alma Realty.