Developer American Lions has secured $224.3 million in bridge financing for The Italic, a recently completed residential skyscraper at 26-32 Jackson Avenue in Long Island City, Queens. Designed by SLCE Architects, the 49-story tower yields 363 residential units, including 109 affordable apartments. JLL Capital Markets arranged the financing package for the development team, a joint venture between The Carlyle Group, Fetner Properties, and Lions Group. The property is located at the corner of Jackson Avenue and Purves Street.

Amenities at The Italic include a fitness center, indoor basketball court, golf simulator, coworking space, multiple lounges, and a rooftop terrace. The building also features 10,300 square feet of ground-floor retail.

The Italic benefits from a 35-year Affordable New York tax abatement and includes a new publicly accessible open space beneath the Queensboro Bridge. The project is positioned as a sister building to The Bold, also developed by the sponsors.

Transit nearby the property includes the E, M, R, N, W, and 7 trains, with direct service to Midtown, Manhattan.

Source: New York Yimby