{"id":1004673635,"date":"2023-07-27T04:09:54","date_gmt":"2023-07-27T12:09:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004673635"},"modified":"2023-07-27T06:48:45","modified_gmt":"2023-07-27T14:48:45","slug":"brause-realty-secures-30m-refi-for-queens-office","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/brause-realty-secures-30m-refi-for-queens-office\/","title":{"rendered":"Brause Realty Lands Refi for JetBlue\u2019s HQ"},"content":{"rendered":"
\"27-01<\/a>

27-01 Queens Plaza North. Image courtesy of Cushman & Wakefield<\/em><\/p><\/div>\n

Brause Realty<\/strong> has obtained a $30 million refinancing loan for 27-01 Queens Plaza North, a 700,000-square-foot office building<\/a> in Long Island City, N.Y. Apple Bank<\/strong> provided the financing. The owner will use the funds to renovate the property.<\/p>\n

Cushman &<\/strong> Wakefield<\/strong>\u2019s Equity, Debt & Structured Finance team served as the exclusive advisor and secured the financing on behalf of the borrower. Executive Managing Director Gideon Gil, Senior Director Lauren Kaufman and Analyst Dale Braverman represented Brause in the transaction.<\/p>\n

The building was 72 percent leased to Aramis and JetBlue at the time, serving as the latter’s headquarters.<\/p>\n

The capital improvement plan focuses on modernizing the common areas and the amenities of the 13-story property. The owner will upgrade the fitness center, conference area, tenant lounge, outdoor terrace and bike room. The project also includes the addition of new windows and a 13,000-square-foot food and beverage facility.<\/p>\n

Constructed in 1911, the property was an assembly plant for Rolls-Royce cars, Brewster cars and Brewster Buffalo airplanes. The Brewster Building was converted into office space in 2003. After the adaptive reuse project, the property achieved LEED Gold certification.<\/p>\n

The office asset is located in an Opportunity Zone in New York City<\/a>\u2019s Queens borough. The building is within walking distance of the Queensboro Plaza, Queens Plaza and Court Square subway stations.<\/p>\n","protected":false},"excerpt":{"rendered":"

The century-old building was once a Rolls-Royce assembly plant.<\/p>\n","protected":false},"author":3014,"featured_media":1004673637,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1600,21742,10,21747],"tags":[52099,32799,32779,43688],"class_list":["post-1004673635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-new-york","category-latest","category-northeast","category-office","tag-apple-bank","tag-cushman-wakefield","tag-leed","tag-opportunity-zones"],"acf":[],"yoast_head":"\nBrause Realty Lands Refi for JetBlue\u2019s HQ - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Brause Realty has secured a $30 million refinancing loan for a 700,000-square-foot office building in Long Island City, N.Y.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/brause-realty-secures-30m-refi-for-queens-office\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brause Realty Lands Refi for JetBlue\u2019s HQ\" \/>\n<meta property=\"og:description\" content=\"Brause Realty has secured a $30 million refinancing loan for a 700,000-square-foot office building in Long Island City, N.Y.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/brause-realty-secures-30m-refi-for-queens-office\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-27T12:09:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-27T14:48:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Brewster-LIC-1-e1690372810463.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1822\" \/>\n\t<meta property=\"og:image:height\" content=\"1367\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brause-realty-secures-30m-refi-for-queens-office\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/brause-realty-secures-30m-refi-for-queens-office\/\",\"name\":\"Brause Realty Lands Refi for JetBlue\u2019s HQ - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brause-realty-secures-30m-refi-for-queens-office\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brause-realty-secures-30m-refi-for-queens-office\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Brewster-LIC-1-e1690372810463.jpg\",\"datePublished\":\"2023-07-27T12:09:54+00:00\",\"dateModified\":\"2023-07-27T14:48:45+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"Brause Realty has secured a $30 million refinancing loan for a 700,000-square-foot office building in Long Island City, N.Y.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brause-realty-secures-30m-refi-for-queens-office\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/brause-realty-secures-30m-refi-for-queens-office\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brause-realty-secures-30m-refi-for-queens-office\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Brewster-LIC-1-e1690372810463.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Brewster-LIC-1-e1690372810463.jpg\",\"width\":1822,\"height\":1367,\"caption\":\"27-01 Queens Plaza North. 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