BY JON CRONIN
RJ Capital Holdings in Bayside has completed several developments over the past few years in the borough of Queens and has another three on the horizon.
RJ Capital LLC. began in the late 1990s by Rudy Abramov, the principal head of development for the agency.
According to their website, “Rudy is the sole foundation of RJ Capital Holdings and heads the development division.
With over 20 years of real estate experience, Rudy manages the development process including property and construction management. He utilizes both his skills and financial leverage while ensuring successful transition from proposal to C/O.”
His son, Michael Abramov, also works with the company as head of investments and acquisitions.
“One of the key elements that makes RJ Capital Holdings a high return while maintaining a low risk factor is the principle of having not one or two vehicles of strategy for entering the market with new product, but multiple,”the company states in their literature.
Currently they have a project in pre-development in Ridgewood, which Michael stated is a joint venture with two other parties. The project would be located on the corner of Palmetto Street and Myrtle Avenue. It will be a mixed use development with approximately 200,000 square feet of space with commercial, retail, residential and community facilities.
Another project which Rudy Abramov categorized as also in the stage of pre-development and as more of a vision than anything else, has seen some press lately. This project may replace the former Trylon movie theater in Rego Park, which now houses a synangogue. The project, located on Queens Boulevard, would include retail, office space and a community facility in approximately 105,000 square feet of space.
Also under development is in Queens Village, which Michael said is the re-development of an existing site, which total in 29,000 square feet of space with a Retro Fitness gym as the anchor store.
Reach Reporter Jon Cronin at (718) 357-7400 x125, email@example.com or @JonathanSCronin