Watermark Capital Group Secures $105 Million Loan For Multifamily Property In Long Island City

The asset involved in this transaction is a multifamily property located at 41-10 Crescent Street in the Long Island City market. This property secured a loan amount of $105,000,000, categorized specifically as a Lease up, Leasehold Refinance transaction.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $105,000,000
• Address: 41-10 Crescent Street
• Market: Long Island City
• Landlord: Watermark Capital Group
• Landlord's Representatives: Morris Betesh, Israel Mermelstein, Omar Ferreira, Jacob Petrovic & Jonah Schultz - Arrow Real Estate Advisors
• Loan Type: Lease up, Leasehold Refinance

This transaction involved significant key players in the real estate sector, particularly the landlord, Watermark Capital Group. The team representing the landlord consisted of Morris Betesh, Israel Mermelstein, Omar Ferreira, Jacob Petrovic, and Jonah Schultz from Arrow Real Estate Advisors.