NEW YORK CITY — American Lions, a joint venture between Fetner Properties and the Lions Group, has secured a $350 million debt and equity capitalization to develop The Italic. JLL represented the borrower to secure the loan. JLL also arranged the joint venture equity. Christopher Peck and Alex Staikos led JLL’s Capital Markets Debt Advisory team. Rob Hinckley, Steven Rutman and Nicco Lupo led JLL’s Capital Markets Equity Advisory team.
The Italic will be a 363-unit mixed-use community in New York City’s Long Island City neighborhood. The project comprises 283,000 square feet of residential space and 10,000 square feet of commercial retail space. The Italic will offer one-, two- and three-bedroom floor plans, as well as amenities such as a fitness center, golf simulator, lounge, basketball court, co-working space and a rooftop terrace. Thirty percent of units will be affordable, but details regarding rent restrictions were not disclosed. The development is expected to be completed by December 2025.