Affinius Capital Supplies $98M Refi on Queens Apartments
Affinius Capital’s Perry Katz and a rendering of The Northern. PHOTO AND RENDERING: Courtesy Affinius Capital
Goose Property Management has landed a $98 million loan to refinance adjacent multifamily properties under construction in Astoria, Queens, Commercial Observer has learned.
Affinius Capital provided the loan on The Northern I and The Northern II properties, which comprise 64 and 129 units, respectively. Loan proceeds will be used to fund remaining construction costs and lease the property to stabilization.
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Perry Katz, vice president of Affinius Capital, said in a statement that the loan “aligns with our strategy to finance high-quality, transportation-oriented urban developments.”
Galaxy Capital’s Henry Bodek arranged the transaction.
Located between 38th Avenue and 39th Avenue, the apartment properties include 78 underground parking spaces and 4,300 of ground-floor retail space. Community amenities feature a rooftop deck, fitness center, yoga studio and coworking lounge.
Officials at Goose Property Management did not immediately return a request for comment.
Andrew Coen can be reached at acoen@commercialobserver.com
