CBRE Arranges $215M in Financing for LIC 417-Unit MF 

CBRE has arranged a $214.5 million construction loan for Link Apartments QPN, a 417-unit high-rise multifamily development in Queens, New York. The loan was secured by Elliott Voreis, Nate Sittema, Kristen Reilley, and Owen Hall with CBRE Capital Markets’ Debt and Structured Finance team in Charlotte, on behalf of the borrower, Grubb Properties. 

Link Apartments QPN, currently under construction and expected to open in 2025, celebrated the topping out of the building this week. The development will be a 26-story high-rise offering 417 rental units, including 124 designated as affordable housing. Additionally, the property will feature 6,920 square feet of ground-floor retail space. 

Grubb Properties is partnering with the Department of City Planning and Metropolitan Transportation Authority to participate in New York’s ‘Zoning for Accessibility’ program. This initiative includes introducing a 24/7 street-level elevator to the attached Queensboro Plaza subway station.  

“Grubb is creating a truly exceptional community here in Queens, seamlessly integrating transit and workforce housing units that have been meticulously planned over many years,” said Nate Sittema, vice chairman with CBRE.