Lightstone Capital arranges $81.7 million in financing

New York, NY Lightstone Capital, Lightstone’s real estate debt platform, has arranged three loans totaling $81.7 million:

• A $56.5 million loan was placed for 181 East 28^th St. Forkosh Development Group is the sponsor. The 22-story high-rise building contains 43 condominium units. Amenities include a common roof terrace with bar, grill, and landscaping. The property also has a dedicated and naturally lit resident lounge and 24-hour duplex gym offering dedicated cardio and weight rooms.
• A $9 million industrial acquisition loan was placed for 3 contiguous indstrial properties in Queens. The properties are located at 95-25 149^th St., 95-08 150^th St., and 95-12 150^th St. in the Jamaica neighborhood. The sponsors were Radix Capital and DL Development. The properties contain 53,000 s/f, in a high quality last mile location and are 60% occupied. The sponsor plans to update the buildings and lease up the property to market rents. Meridian Capital was the broker.
• A $16.2 million refinance was arranged for a cash flowing portfolio in Brooklyn. The portfolio is comprised of 10 stabilized multifamily properties primarily in the Williamsburg and Carroll Gardens neighborhoods. The proerties contain a total of 38 apartments and 2,800 s/f of commercial space.