Lightstone Group Secures $168M Refinance Loan For ARC In Long Island City

The multifamily property located at 30-02 39th Avenue in Long Island City, Queens, consists of 482 units. Joseph E. Teichman of Lightstone Group is the landlord of this asset, which recently underwent a refinancing transaction. Patrick McCarren from JLL Real Estate Capital provided a loan amount of $168,000,000 for the refinancing.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $168,000,000
• Address: 30-02 39th Avenue
• Market: Long Island City, Queens
• Lender: Patrick McCarren - JLL Real Estate Capital
• Landlord: Joseph E. Teichman - Lightstone Group
• Loan Type: Refinance

30-02 Associates LLC represented Lightstone Group in securing the $168 million refinancing loan from JLL Real Estate Capital, covering all three commercial condominium units of the ARC building in Long Island City, Queens.