Adam Spies Acquires Mixed-Use Property In Long Island City For $438M

A mixed-use property located at 24-02 49th Avenue in Long Island City has been involved in a closed transaction. The property, spanning 830,000 square feet, was subject to a loan of $438,000,000 provided by Apollo Global Management and Axonic Capital. The landlord of the property is Andrew Chung, who represents Innovo Property Group and Nan Fung Group.

Summary of transation details

• Property Type: Mixed-use
• Transaction Amount: $438,000,000
• Address: 24-02 49th Avenue, Long Island City
• Market: Long Island City
• Lender: Apollo Global Management & Axonic Capital
• Landlord: Andrew Chung – Innovo Property Group & Nan Fung Group
• Broker: Adam Spies
• Square Footage: 830,000

Adam Spies, a broker, was involved in the transaction, representing the parties involved. The property transaction, which took place on 11/08/2019, signifies a significant deal in the Long Island City market.