Affinius Capital Supplies $98M Refi on Queens Apartments
By Andrew Coen September 4, 2024 10:16 am
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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.
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
