The 3,285-unit complex was sold by Fresh Meadows Development LLC, a corporation formed by Insignia Financial Group Inc., the Witkoff Group, Lehman Brothers and Cammeby's Int., which purchased the property in 1999. The buyer is Queens Fresh Meadows LLC.
GMACCM vice president John Motzel of the Red Bank, NJ retail production office arranged the transaction through Freddie Mac. The loan carries a 25-year amortization.
Residential components of the 140-building Fresh Meadows include a 20-story high-rise building, two 13-story buildings, 67 three-story garden apartment buildings, 70 two-story duplexes and six parking facilities.
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