X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-GMAC Commercial Mortgage Corp. today released details on its arrangement of the largest single-asset transaction in Freddie Mac history: a $205-million, fixed-rate loan for the purchase of Fresh Meadows, the largest apartment community in Queens.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. Apartments 2020Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.