Fetner Properties and Lions Group have secured loans to shore up $107 million to use on a New York City property that will include multifamily units.
Most of the financing is being provided by Valley Bank and IBD Bank, who agreed to give the two firms a $80 million senior mortgage, as reported by the Commercial Observer, citing sources familiar with the situation. And Mavik Capital Management has provided a mezzanine loan worth $27 million.
The financing is for their lease and the completion of The Bold, Fenter's, and Lion's property in Long Island City, Queens. Located at 27-01 Jackson Ave, the building features 27 stories, according to a report from New York YIMBY. The residential property also comes with 164 multifamily units, a storage facility that measures 6,224 square feet, and 8,648 square feet of retail space. The total space of the tower equals 150,000 square feet.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
