Affinius Capital Provides $68M to Refi Queens Multifamily Property

Goose Property Management has secured $68 million to refinance Astor on Third II, a recently completed, 137-unit multifamily property in Astoria, Queens, that features 17,900 square feet of ground-floor retail. 

Affinius Capital provided the loan, which will be used during the lease-up of the building ahead of stabilization. Galaxy Capital’s Henry Bodek arranged the financing. 

Affinius Capital Vice President Perry Katz noted that the deal is his firm’s second transaction with Goose Property Management, and that the refinancing “underscores [Affinius’] confidence” in the leasing potential of the greater New York City region. 

“As a premier, multifamily property in Astoria, Astor on Third II exemplifies our focus on transit-oriented assets in high-growth areas,” said Katz in a statement.

Astor on Third II is at 2-24 26th Avenue in Astoria Park, a relatively small neighborhood of Queens that faces the East River between Roosevelt Island and Randalls Island, near the Robert F. Kennedy Bridge and several subway lines. The six-story, Class A building opened this year and features studios, one-bedrooms, and two-bedrooms, along with a fitness center, a playroom, a movie theater and a resident’s lounge. 

Astor on Third II is just a stone’s throw from its sister property, Astor on Third I, a seven-story, 58-unit property that opened in 2022 at 26-41 Third Street, one block from 26th Avenue.  

Brian Pascus can be reached bpascus@commercialobserver.com