NEW YORK CITY — The CB Richard Ellis Capital Markets Group has arranged $39 million in financing for the acquisition of the Standard Motors Building in the Long Island City neighborhood of Queens, New York City. The seven-story facility is located at 37-18 N. Blvd. The borrower, a joint venture between a local developer and an institutional fund, plan to utilize a portion of the fund to redevelop the building. Upon redevelopment, the building will contain 43,000-square-foot floor plates, high ceilings, large windows and 24-hour access. Keith Braddish, Jason Gaccione and Maury Zanoff of CBRE arranged the financing.