NEW YORK CITY—Hunt Mortgage Group has providedan $87 million Fannie Mae loan to refinance a multifamily propertyin Long Island City, has learnedEXCLUSIVELY.

The borrower is Citylights at Queens Landing Inc. a New Yorkcorporation and cooperative. The loan is structured with a 20-yearterm and 19.5-years yield maintenance period.

Citylights at Queens Landing is a 42-story building thatcontains 522 apartments with 506 functional units (some tenantscombined neighboring apartments into single units). The property issituated on a single 1.8 acre parcel of land, was constructed in1996, and has 527 parking spaces.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.