138-25 Barclay Avenue

Owner: Watermark Capital Group

Debt: July 08, 2025, $14.5 million

Built: 2023

SF: 40,976

Dwelling units: 48

No. of buildings: 1

Class: Fireproof (Standard Construction Without Stores) (D3)

Floors: 7

Transactions:

• Watermark Capital Group borrowed $14.5 million from Arion Fund and White Oak Assets and Gal Nagar for 138-25 Barclay Avenue, Flushing, Queens on July 08, 2025.

• Company sold 138-25 Barclay Avenue, Flushing, Queens for $0 to company on February 14, 2023.

• Watermark Capital Group borrowed $13.2 million from Bridge City Funding for 138-25 Barclay Avenue, Flushing, Queens on February 02, 2023.

• Company sold 138-25 Barclay Avenue, Flushing, Queens for $0 to company on May 25, 2022.

Development:

• Eddie Gazheli filed plans for alteration in Flushing, Queens, on March 10, 2023.

• Eddie Gazheli filed plans for alteration in Flushing, Queens, on June 22, 2022.

• Joel Werczberger filed plans for alteration in Flushing, Queens, on May 19, 2022.

• Joel Werczberger filed plans for alteration in Flushing, Queens, on May 19, 2022.

• Joel Werczberger filed plans for alteration in Flushing, Queens, on May 20, 2022.

Violations:

According to city public data, the properties have received one DOB violation, $84,375 in ECB penalties, three housing violations, $92,475 in OATH penalties, and one housing litigation in the last year.