|
Stephen Palmese |
NEW
YORK, NY – JLL Capital Markets announced it has
secured$55 million in joint venture equity for Cape
Advisors’ 30-77 Vernon Blvd in Astoria, Queens.
JLL
worked on the behalf of the borrower, Cape Advisors, to secure the joint
venture equity.
The
three-building, 534-unit property, located on a 2.5-acre waterfront site
overlooking Manhattan, is one of the largest multi-housing developments in the
city’s five boroughs.
Astoria
is one of New York City’s most vibrant neighborhoods, with world-class dining,
shopping and nightlife within walking distance of the property.
|
Rob Hinckley |
30-77 Vernon
Boulevard is also conveniently located in close proximity to public
transportation options, including the Astoria East River ferry stop, the R
and W subway lines and a variety of bus lines.
The
JLL Capital Markets team representing the borrower was led by Vice Chairman
Stephen Palmese, Managing Directors Rob Hinckley and Jeffrey Julien, Vice
President Nicco Lupo and Senior Director Steven Rutman.
“30-77
Vernon Boulevard is uniquely positioned to accommodate New York City renters
seeking abundant space, top of the line amenities and extraordinary waterfront
views,” said Hinckley.
“Overlooking
the East River and Manhattan, the property offers the best of Astoria and easy
access to all of New York City from the adjacent ferry stop,” added Palmese.
|
Jeffrey Julien |
About Cape Advisors
Cape Advisors is a New York-based real estate development,
investment and a management firm with extensive experience in residential,
commercial, retail and hospitality projects.
Since
1995 Cape Advisors has brought insight, integrity and expertise to nearly $3
billion in development.
Cape’s
projects range from residential and hospitality to retail and commercial, as
well as the ownership and operation of restaurants, bars and retail venues.
From
ground up high-rise Manhattan construction to historic preservation and
adaptive re-use, each complex collaboration reflects the innovative design and
creative transformation of place that makes Cape Advisors unique.
|
Nicco Lupo |
About JLL
JLL (NYSE: JLL) is a leading professional services firm that
specializes in real estate and investment management.
JLL
shapes the future of real estate for a better world by using the most advanced
technology to create rewarding opportunities, amazing spaces and sustainable
real estate solutions for our clients, our people and our communities.
JLL is a Fortune 500 company with annual
revenue of $18.0 billion, operations in over 80 countries and a global
workforce of more than 93,000 as of December 31, 2019.
|
Steven Rutman |
JLL
is the brand name, and a registered trademark, of Jones Lang LaSalle
Incorporated.
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more news, videos and research resources on JLL, please visit our newsroom.
CONTACTS:
George
Shea, Adelaide Bullock
Company: Shea Communications
Phone: +1 212 627 5766