Natixis Lends $165,000,000 for Long Island City Multifamily Project
Natixis Real Estate Capital LLC provided $165,000,000 of 10-year term fixed-rate financing to World-Wide Group to refinance QLIC, a 21-story, 421-unit Class A multifamily project located at 41-42 24th Street, Long Island City, New York. The financing was arranged by Andy Singer and Kathleen McSharry from The Singer & Bassuk Organization LLC.
The property offers a condo-level amenity package, including 24-hour doorman, landscaped roof deck, tenant lounge with unobstructed Midtown and 59th Street Bridge views, outdoor pool, fitness center and a lush, landscaped interior garden. The property also contains a 108space parking garage and approximately 8,200 sq. ft. of retail space.
The high-end unit finishes include white oak hardwood floors, oversized closets, custom Italian kitchens with gray ash and white cabinetry, white quartz countertops and stainless-steel appliances, custom Italian bathroom cabinetry, and washer and dryer.
Centrally located in the Queens Plaza neighborhood of Long Island City, the property has easy access to three subway stations serviced by seven subway lines within three blocks, which provides a 5-minute ride to Midtown Manhattan.