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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.

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