Greystone Arranges $37 Million Refinance for Lions Group’s 82-Unit Rental Project in Astoria
October 7, 2019
Category: Fannie Mae, Multifamily
Greystone announced the closing of a $37,050,000 permanent loan made to an affiliate of the Shirian Family’s Lions Group to refinance 14-01 Broadway, a new 82-unit 100% market-rate multifamily rental apartment building located in Astoria, NY. The 10-year fixed-rate Fannie Mae loan replaces a Bank Leumi construction facility.
Family-owned and managed, Lions Group leverages its expertise through acquisition, development, construction and management of residential, commercial, and retail properties. Lions Group currently owns and operates over 1,500,000 square feet of luxury condominium, multifamily, and commercial spaces and has excelled in delivering products to Queens, completing over ten projects in the borough within the last fifteen years. Lions Group is run by Albert, Ramin, Aaron, Jake and Allen Shirian.
14-01 Broadway’s superb location in the Astoria neighborhood bordering Long Island City provides residents with breathtaking views of Manhattan, as well as easy access to the neighborhood’s numerous modes of transportation and wide range of amenities.
14-01 Broadway offers carefully designed amenities for residents intended to enhance the city lifestyle while simultaneously emphasizing relaxation and fun. Residents of the building have access to a state-of-the-art fitness center and sauna. Additionally, there is a 5,000 square foot outdoor lounge on the second floor, as well as a 1,000 square foot landscaped roof terrace, offering 360-degree views of Manhattan and Queens. Residents also have access to a bike room and parking, as well as an on-site Zipcar location.
Greystone Capital Advisors, represented by Drew Fletcher, Matthew Klauer, and Bryan Grover, served as exclusive advisor on the transaction. “Lions Group has been one of New York City’s most active residential developers in Queens with multiple projects delivered or under construction. They have developed thoughtfully-designed, first-class buildings that stand out in their neighborhoods and we are extremely proud to have worked with them on this assignment,” said Mr. Fletcher.