Fetner Properties & Lions Group Acquire Multifamily Property In Long Island City For $350M

The property involved in this transaction is a multifamily asset located at 26-32 Jackson Avenue in Long Island City. The transaction took place on April 30, 2023. The property is owned by Fetner Properties, Aaron Shirian, Eric Shirian, Allen Shirian, and Jake Shirian of Lions Group. The brokerage services were provided by Steven Rutman, Rob Hinckley, Christopher Peck, Nicco Lupo, and Alex Staikos from JLL. The total capitalization for this deal amounts to $350,000,000, and it involves a joint venture equity and construction loan.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $350,000,000
• Date: April 30, 2023
• Address: 26-32 Jackson Avenue
• Market: Long Island City

This transaction brings together a collaboration between Fetner Properties, Aaron Shirian, Eric Shirian, Allen Shirian, Jake Shirian, and Lions Group as the landlords, and Steven Rutman, Rob Hinckley, Christopher Peck, Nicco Lupo, and Alex Staikos from JLL as the brokers. The deal involves a substantial total capitalization of $350,000,000, consisting of joint venture equity and a construction loan.