American Lions, the joint venture of Fetner Properties and Lions Group, has closed a $111 million bridge loan for The Bold, a recently delivered multifamily tower in Long Island City. The 28-story property, located at 27-01 Jackson Ave., comprises 164 residential units and is positioned within one of New York City’s most active live-work-play neighborhoods.
The non-permanent financing was provided by PGIM Real Estate, with JLL Capital Markets arranging the loan on behalf of the borrower. The capital stack details beyond the bridge facility were not disclosed, but the transaction underscores ongoing lender interest in well-located multifamily product in Long Island City.
JLL Capital Markets assembled a multi-disciplinary team to represent American Lions in the financing. The team was led by senior managing director Christopher Peck, senior director Nicco Lupo, managing director Michael Shmuely, director Alex Staikos and vice president Adam Dietrich. Their role focused on structuring and securing the bridge loan to support the sponsor’s strategy for The Bold.
Hal Fetner, president and CEO of Fetner Properties, described The Bold as the result of a decade-long vision to contribute to the transformation of Long Island City. He noted that obtaining financing from PGIM Real Estate reflects both the strength of the tower itself and the venture’s long-term commitment to the surrounding community.
The Bold is directly linked to a broader two-building assemblage in the neighborhood. It serves as the sister property to The Italic, which sits across the street. Both multifamily buildings were designed by SLCE Architects, giving the pair a coordinated architectural identity within the Jackson Avenue corridor.
In addition to their shared design pedigree, The Bold and The Italic are connected by a public park developed by Fetner Properties and Lions Group. The open space is intended as a community amenity for residents and neighbors, further integrating the properties into the Long Island City streetscape. The article did not disclose whether the park or either building includes retail or other commercial components.
Specific terms of the PGIM Real Estate bridge loan, including its duration, interest rate and leverage metrics, were not made public. However, the closing adds another large-scale multifamily financing to Long Island City’s pipeline and illustrates ongoing capital flows into the neighborhood’s residential high-rise segment.
