Astoria Multifamily Scores AIG Loan
Cushman & Wakefield advised 34-22 Astoria Partners LLC, led by Theodore Kakoyiannis of Valyrian Capital, in obtaining a $26.5-million refinancing of DVI Astoria, a 65,000-square-foot multifamily asset located at 34-22 35th St. in Astoria. The loan was provided by AIG.
A Cushman & Wakefield equity, debt & structured finance team of Gideon Gil, Zachary Kraft and Maya Steinberger represented the borrower.
“AIG recognized the strength of this brand new, Class A multifamily property with great amenities and a premier location in Astoria,” said Gil. “We were pleased to connect our client with AIG, and congratulate both parties on a seamless execution during unprecedented times in the capital markets.”
34-22 35th is a newly-constructed seven-story, mid-rise, 64-unit Class A apartment building containing 22 studios, 23 one-bedrooms, 17 two-bedrooms and two three-bedrooms at an average size of 647 rentable square feet. The property also has one 1,400-square-foot retail space.
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