East One borrows $15M from Columbia Pacific Advisors for retail in Flushing

East One Equities through the entity Roosevelt Avenue Plaza De LLC as borrower signed a loan agreement with lender Columbia Pacific Advisors through the entity Cpif Mra, LLC valued at $15.0 million for 2 parcels, including the tax class two-story or store and office (K2) at 142-26 Roosevelt Avenue and 142-38 Roosevelt Avenue in Flushing. The deal closed on March 12, 2021 and was recorded on March 26, 2021.
The property has 12,880 square feet of available development rights.
The average loan per buildable square foot is $1,165.
The new lender is Columbia Pacific from Seattle, Washington. http://columbiapacific.com/team-expertise/real-estate-lending/
Direct link to Acris document. link