American Lions, a joint venture between Fetner Properties and the Lions Group, has secured $350 million in construction financing for The Italic – a 363-unit luxury mixed-use community located in Long Island City. Featuring 283,000 square feet of residential space and 10,000 square feet of commercial retail space with studio to three bedroom floorplans averaging 770 sqft., the project is expected to include 254 market rate units and 109 affordable units.
JLL represented the borrower to secure this loan as well as arrange joint venture equity with Christopher Peck leading a team including Alex Staikos, Rob Hinckley Steven Rutman and Nicco Lupo.
This $350M investment into The Italic marks an exciting development for Long Island City’s real estate landscape that will bring luxurious living options along with much needed affordable housing solutions.
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Steve Griffin
October 4, 2024
