Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Debt replaces $325M financing package from 2006

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron’s Cammeby’s International Group scored a $500 million Fannie Mae loan for its nearly 3,300-unit megacomplex in Queens, according to property records.

Capital One provided the refinancing, which includes a nearly $190 million multifamily mortgage. It covers hundreds of low-rise buildings and a vacant plot of land, stretched across eight tax lots surrounding the Long Island Expressway, city records show. The new financing replaced a $325 million debt package through Independence Community Bank from 2006.

Representatives for Schron and Capital One could not immediately be reached for comment.

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Cammeby’s in 2001 bought out its partners in the complex, according to a Commercial Real Estate Direct report at the time.

Cammeby’s earlier this year landed a $135 million refinancing for a Brighton Beach apartment complex built by President Donald Trump’s father, Fred Trump. Capital One again provided the financing for that deal.