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Morgan Stanley Provides $215M Loan For Multifamily Property In Long Island

42-12 28th Street Queens
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This MultiFamily property located in NY received a loan of $215,000,000 about 5 years ago. The brokers of the deal were Jonathan Schwartz and Aaron Appel

The multifamily property at 42-12 28th St in Queens, Long Island, has been involved in a closed transaction. The property, owned by Heatherwood Luxury, has a size of 400K square feet. The transaction, which took place on March 14, 2019, involved a loan amount of $215M from Morgan Stanley.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $215M
  • Address: 42-12 28th St, Queens, Long Island
  • Market: Long Island
  • Lender: Morgan Stanley
  • Landlord: Heatherwood Luxury
  • Brokers: Jonathan Schwartz & Aaron Appel from JLL NY Capital Markets
  • Loan Terms: 10 years
  • Square Footage: 400K

The deal was facilitated with the assistance of Jonathan Schwartz and Aaron Appel from JLL NY Capital Markets, who represented Heatherwood Luxury. This transaction marks a significant development in the Long Island real estate market.

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  • Location
    42-12 28th St, Long Island City, Queens, Long Island City, NY, USA42-12 28th St, Long Island City, Queens, Long Island City, NY, USA
  • Loan Value
    $215,000,000$215,000,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency, 1 Lender2 Brokers, 1 Agency, 1 Lender

Agents

Aaron Appel

Aaron Appel

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Financed$15.1B

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Walker & Dunlop

Walker & Dunlop

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Morgan Stanley

Morgan Stanley

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Volume$ 208.8B

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Deal Summary

LOAN IMAGE: Jonathan Schwartz & Aaron Appel DATE: 03/14/2019 ADDRESS: 42-12 28th St Queens MARKET: Long Island ASSET TYPE: Multifamily LENDER: Morgan Stanley LANDLORD: Heatherwood Luxury BROKERS: Jonathan Schwartz & Aaron Appel @jll_ny_capitalmarkets LOAN AMOUNT: $215M LOAN TERMS: 10 y SF: 400K

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42-12 28th Street Queens

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