Affinius Capital LLC has recently completed a $105-million investment to recapitalize Sven, an impressive 958-unit multifamily property located in Long Island City. The property was originally developed by The Durst Organization and opened its doors to residents in early 2022. Standing at an impressive height of 71 stories, Sven quickly reached full occupancy within just one year.
According to David Greenburg, the managing director of Affinius Capital, “Sven is not only a premier residential destination but also a crown jewel in Long Island City’s skyline.” He further explains that the property’s prime location offers easy accessibility and close proximity to major employment hubs while maintaining a favorable supply-demand balance. This partnership with The Durst Organization – renowned developers of New York City’s most prestigious properties – showcases their confidence in both the submarket and Sven’s potential for redefining luxury living within this dynamic urban landscape.
The investment deal was successfully arranged by top professionals from Newmark Group including Doug Harmon, Adam Spies, Adam Doneger, Josh King Marcella Fasulo and Chris Kramer.
