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Fetner/Lions Group JV Lines Up Financing for LIC Rentals
American Lions, LLC, a joint venture between Fetner Properties and the Lions Group, said Tuesday its first project, 27-01 Jackson Ave. In Long Island City, is fully financed, with $95 million in backing from Bank Leumi USA, Leumi Partners, and Israeli Discount Bank. The JV will build a 27-story rental building with 164 apartments, 30% of which will be affordable.
“We are proud to be part New York City’s economic recovery with the start of this project, and more importantly, we look forward to meeting the housing needs of New Yorkers from a wide range of economic backgrounds in the heart of Long Island City,” said Hal Fetner, president and CEO of Fetner Properties.
27-01 Jackson Ave. is the first of a two-phase project for American Lions, which will include another tower across Jackson Avenue. SLCE Architects is the architect for both residential rental buildings.
Rendering courtesy of SLCE Architects.
- ◦Financing
