Queens Properties Line Up Affinius Capital Refi
The mixed-used towers are situated in one of the borough’s thriving neighborhoods.
New York-based Goose Property Management has secured a $98 million loan from Affinius Capital refinancing Northern I and II, a pair of adjacent Class A multifamily properties in the Astoria neighborhood of Queens, N.Y.
The communities comprise 193 units, as well as 4,300 square feet of ground-floor retail space. The financing will be used to complete construction at the project and lease the property for stabilization. Henry Bodek of Galaxy Capital arranged the financing.
Northern I is a nine-story structure with 64 units. Northern II, a 10-story building, hosts 129 units. Both properties offer a mix of studios, one-bedroom and two-bedroom apartments. Amenities include 78 parking spaces, a furnished rooftop deck offering views of the New York City skyline, a fitness center, yoga studio, private theatre, an on-site laundry room and a coworking lounge. The property is near several subway lines.
Recent Affinius deals
In June, Affinius Capital closed a $55.3 million loan refinancing Stillwater Capital’s Crystal Springs property, a two-building, 387-unit community in Fort Worth, Texas. Last year, Greystone and Affinius Capital sealed a $135 million mortgage loan for Rise Koreatown, a 363-unit community in Los Angeles. Rescore Property Group, a private REIT and affiliate of Encore Capital Management, developed and owns the asset.
Astoria has seen a flurry of activity in recent years. Last November, The Durst Organization and general contractor Urban Atelier Group topped out 20 and 30 Halletts Point in Queens. The towers are 27 and 32 stories tall, respectively, and feature 647 apartments.
