Real Estate Weekly
Image default
Debt & EquityFeatured

Rockrose closes on $350M refinance of LIC tower

Rockrose Developer has refinanced its Eagle Lofts development in Loing Island City with a $350 million loan from Well Fargo.

The financing replaces the $255 million loan the developer had received for the project from Bank of America, according to public records.

Located at 43-22 Queens Street in Long Island City, the 790-unit Eagle Lofts is a recently completed 55-story tower and one of the tallest residential buildings in Queens.

Rockrose purchased the site in 2012 for $48 million.

Kramer Levin represented Rockrose Development L.L.C. in the refinancing with a team that included real estate partner James P. Godman and associates Tatiana Mejia Uribe and Seth R. Niedermayer.

Related posts

JLL launches luxury pre-built campaign in downtown jewel-box at 520 West 20th St.

REW

The Moinian Group Expands Partnership with Life Time for Ocean Residents at 1 West Street

REW

Historic Schuster Mansion, a Turnkey Bed-and-Breakfast in Milwaukee, Wisconsin, Goes Up for Auction

REW