Wells Fargo Provides $224.3 Million Bridge Loan For Multifamily Property In Long Island City

The property asset involved in this transaction is a multifamily structure located at 26-32 Jackson Avenue in Long Island City. The asset encompasses a total square footage of 290,000 and consists of 363 units, reflecting its capacity to cater to a sizable residential population.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $224,300,000
• Lender: Wells Fargo
• Landlord: The Carlyle Group, Fetner Properties & Lions Group
• Brokers: Christopher Peck, Nicco Lupo, Michael Shmuely & Alex Staikos - JLL
• Loan Type: Bridge

The transaction features notable individuals such as Christopher Peck, Nicco Lupo, Michael Shmuely, and Alex Staikos, all representing JLL in this deal. They play a crucial role in facilitating the arrangement between the involved parties, including the landlords, The Carlyle Group, Fetner Properties, and Lions Group.