MOUNT VERNON, N.Y. — JLL Capital Markets has arranged a 93 million loan to refinance 42 West Broad Street, a high-rise community in Mount Vernon. The borrower was a joint venture between Alexander Development Group, The Bluestone Organization and institutional investors advised by JP Morgan Asset Management. Kellogg Gaines and Geoff Goldstein led the JLL Debt Advisory team. Canadian institutional lender Otera Capital provided the loan.
Situated in Mount Vernon’s Fleetwood neighborhood, 42 West Broad Street comprises 249 units across 16 stories. Units come in studio, one-, two- and three-bedroom floor plans. The property also offers 20,000 square feet of amenities, including a fitness center, pool with shaded pergolas, co-working spaces, a library, courtyard garden, community room, roof deck and a lounge with billiards and an entertaining kitchen. The property is located in proximity to the Fleetwood Metro North Railroad Station and the Cross County Parkway.