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Greystone closes $37M permanent loan for market rate Queens rental

14-01 Broadway in Astoria, Queens

Greystone announced the closing of a $37,050,000 permanent loan made to an affiliate of the Shirian Family’s Lions Group to refinance 14-01 Broadway, a new 82-unit 100 percent market-rate multifamily rental apartment building located in Astoria, NY.

The 10-year fixed-rate Fannie Mae loan replaces a Bank Leumi construction facility.

Family-owned and managed, Lions Group currently owns and operates over 1.5 million s/f of luxury condominium, multifamily and commercial spaces and has excelled in delivering products to Queens, completing over ten projects in the borough within the last 15 years.

Lions Group is run by Albert, Ramin, Aaron, Jake and Allen Shirian.

14-01 Broadway’s location in the Astoria neighborhood bordering Long Island City provides residents with views of Manhattan, as well as easy access to the neighborhood’s numerous modes of transportation and wide range of amenities.

14-01 Broadway offers residents a fitness center and sauna, 5,000 s/f outdoor lounge on the second floor, as well as a 1,000 s/f landscaped roof terrace, offering 360-degree views of Manhattan and Queens.

Residents also have access to a bike room and parking, as well as an on-site Zipcar location.

Greystone Capital Advisors, represented by Drew Fletcher, Matthew Klauer, and Bryan Grover, served as exclusive advisor on the transaction.

“Lions Group has been one of New York City’s most active residential developers in Queens with multiple projects delivered or under construction. They have developed thoughtfully-designed, first-class buildings that stand out in their neighborhoods and we are extremely proud to have worked with them on this assignment,” said Fletcher.

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