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Newly Delivered LIC Rental Tower Lands $224M Bridge Loan
JLL Capital Markets arranged $224.3 million in bridge financing for The Italic, a newly delivered, trophy mixed-use residential tower located at 26–32 Jackson Ave. in Long Island City. Senior managing director Christopher Peck, senior director Nicco Lupo, managing director Michael Shmuely and director Alex Staikos represented the borrowers, a joint venture between The Carlyle Group, Fetner Properties and Lions Group. Wells Fargo acted as administrative agent and lender.
Completed in 2025, The Italic is a 49-story, 363-unit luxury residential tower comprising 254 market-rate residences and 109 affordable units, along with approximately 10,300 square feet of ground-floor retail. The property is the sister building to The Bold, located just across the street.
“The Italic stands out as one of the premier new residential developments in Long Island City, combining scale, design and an unmatched transit location,” said Peck. “This financing reflects lender confidence in the sponsorship, the quality of the asset and the long-term fundamentals of the Long Island City rental market.”
- ◦Financing
