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24-02 49th Avenue in Long Island City, Queens. Image Credit: Stephen Kim, IPG.

NEW YORK CITY — Innovo Property Group, a New York City-based real estate investment management firm, has completed a $438 million recapitalization of 24-02 49th Ave. in Long Island City, Queens. The firm recapitalized the asset through an equity joint venture with Nan Fung Group and debt from Axonic Capital and Athene Annuity & Life Assurance Company, a retirement services firm under Apollo Global Management.

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Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.

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