Affinius Capital LLC has recently completed a $105-million investment to recapitalize Sven, a 958-unit multifamily property located in Long Island City. The property was originally developed by The Durst Organization and opened in early 2022. Standing at an impressive 71 stories, Sven quickly leased up within its first year.
According to David Greenburg, managing director of Affinius Capital, “Sven is the epitome of luxury living in Long Island City’s skyline with its prime location near major employment centers and high demand for housing.” This investment partnership between Affinius Capital and The Durst Organization highlights their confidence in the submarket’s potential for growth.
The deal was facilitated by Newmark Group’s team consisting of Doug Harmon, Adam Spies, Adam Doneger, Josh King Marcella Fasulo and Chris Kramer. With this successful recapitalization project under their belt,the future looks bright for both Sven and the surrounding urban landscape.
