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JLL Arranges $215M Refi on Luxury Rentals in Long Island City
JLL Capital Markets has arranged a $215-million loan to refinance Tower 28, a luxury multifamily tower in Long Island City’s Queensboro Plaza neighborhood. The group worked on behalf of Heatherwood Luxury Rentals to place the loan with Morgan Stanley.
Vice chairmen Aaron Appel and Jonathan Schwartz, associates Matt Collins and Brian Buglione, and analyst Michael Ianno led the JLL Capital Markets team handling the debt assignment.
“Tower 28 provides residents with the opportunity to live in a newly-built luxury tower that offers a swift commute into Midtown, Hudson Yards and the rest of Manhattan,” said Appel. “Tower 28’s unrivaled location and luxury finishes make it the most sought-after rental property on the market in the rapidly-expanding Long Island City area.”
The 58-story Tower 28, at 42-12 28th St., was completed in March 2017. It contains 450 market-rate units spanning 330,708 rentable square feet.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing

