$224.3 million in bridge financing has been secured for the recently completed residential skyscraper, The Italic, by its development team, American Lions, which is made up of the Carlyle Group, Fetner Properties and Lions Group.
The loan, which was arranged by JLL Capital Markets, will help cover a financial gap in the development of the building. Wells Fargo was the administrative agent and lender.
Located at 26-32 Jackson Ave. in Long Island City, The Italic stands 49 stories tall and spans approximately 290,000 square feet. It has 363 housing units, including 109 affordable units. The skyscraper also features ground-floor retail space spanning around 10,300 square feet.
The building’s units have in-unit washers and dryers and top-of-the-line finishes, including Bosch and Beko kitchen appliances. Additional amenities available at The Italic to residents include two bay golf simulators, a basketball court, dedicated coworking spaces, lounges and a rooftop terrace.
The property is located within close proximity to the Queens Plaza subway station, which provides service for the E, F and R trains, as well as the Queensboro Plaza subway station, which provides service for the 7, N and W trains. There are also bus stops in the area for the Q39, Q66, Q67, Q69, Q101 nd Q102 lines.
