48 DECEMBER 16, 2021 RIDGEWOOD TIMES WWW.QNS.COM
REAL ESTATE
Long Island City 27-story rental building gets $95 million in funding
BY ANGÉLICA ACEVEDO
AACEVEDO@SCHNEPSMEDIA.COM
@QNS
Developers of a 27-story rental
building in Long Island City
announced the project is now
fully financed and construction is
underway.
American Lions LLC have announced
that their fi rst project, 27-01
Jackson Ave. in Long Island City, is
fully financed with $95 million in
backing from Bank Leumi USA, Leumi
Partners and Israeli Discount Bank.
The 27-story rental building, an
as-of-right development, will have
164 apartments with 30% categorized
as aff ordable. A spokesperson for the
developers said they are can’t discuss
market-rate rents and the aff ordable
apartments’ rent is not yet set.
American Lions LLC is a joint
venture between Fetner Properties
and the Lions Group. Both real estate
agencies are multi-generational family
businesses dedicated to building,
owning and managing residential
projects throughout New York City. In
2017, Fetner Properties and the Lions
Group joined together as American
Lions to focus on large-scale development
projects in Long Island City.
Hal Fetner, president and CEO of
Fetner Properties, said construction
for the project has already begun.
“Fetner Properties has a longstanding
commitment to building, owning
and managing high-quality, mixedincome
projects in New York City, and
we are excited to offi cially commence
construction of 27-01 Jackson. This
milestone represents the cumulative
eff orts of colleagues and professionals
across many disciplines over a period
of years, all against the headwinds of
national pandemic, and we are grateful
to all,” Fetner said. “We are proud
to be part New York City’s economic
recovery with the start of this project,
and more importantly, we look forward
to meeting the housing needs
of New Yorkers from a wide range of
economic backgrounds in the heart of
Long Island City.”
This is the fi rst project Fetner Properties
launched in Queens, as they are
better known for their properties
throughout Manhattan. The Lions
Group, founded by immigrant brothers
Albert and Ramin Shirian, was
established in 1984 and focuses on
acquisition, development, construction
and management of residential,
commercial and retail properties.
The Shirian family were some of
the fi rst developers in Long Island
City, receiving the fi rst permit aft er
the rezoning in 2001.
“I’m thrilled to be building another
project in Long Island City, as well as
continuing to strengthen our relationship
with Bank Leumi and Leumi
Partners in addition to building a
new one with Israeli Discount Bank,”
said Albert Shirian, co-founder of
Lions Group. “Joining forces with
Fetner was a natural fi t, as we are both
multi-generational family businesses
dedicated to bringing the absolute best
product to New York City residents. To
commence our work together is a real
honor.”
Read more on QNS.com.
Ridgewood Times Sales Guide
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
69th Avenue
Listings selected at random. Courtesy MLS
Under $600,000
2118 Greene Ave., Unit D1
$529,000
Condo
1 bedroom, 1 bathroom
Claudia Looi, Keller Williams
Landmark II
$600,000-$1,000,000
311 St Nicholas Ave. Unit 3C
$730,000
Condo
2 bedrooms, 2 bathrooms
Ming Zhu, E Realty International
Corp
Over $1,000,000
58-05 69th Ave.
$1,388,000
Multi-family
8 bedrooms, 2 1/2 bathrooms
Kayla Piao and Qun Lin, Winzone
Realty Inc
Doran Avenue 60th Avenue Juniper Valley Road
Under $600,000
90-60 Union Tpke. Unit 12E
$429,000
Co-op
2 bedroom, 1 bathroom
Barrington Richards, Fine Choice
Realty Inc
$600,000-$1,000,000
84-01 Doran Ave.
$850,000
Single Family
4 bedrooms, 3 bathrooms
David Pastorini, Coldwell Banker
Phillips
Over $1,000,000
73-20 70th St.
$1,250,000
Multi-family
8 bedrooms, 4 bathrooms
Peter Nowik and Marek
Sobolewski, Trademarko Realty Inc
Under $600,000
64-62 58th Road
$539,000
Single Family
1 bedroom, 1 1/1 bathrooms
Joan Sammon, O Kane Realty
$600,000-$1,000,000
58-49 57th Road
$888,000
Multi-family
4 bedrooms, 3 bathrooms
Hui Chen, E Realty International
Corp
Over $1,000,000
70-19 60th Ave.
$1,049,000
Multi-family
2 bedrooms, 3 bathrooms
Christopher Tscherne and
Adeline Biondo, Tscherne Realty Inc
Under $600,000
62-98 Woodhaven Blvd. Unit 2D
$459,480
Condo
1 bedroom, 1 bathroom
Xiao Feng Pan, Winzone Realty
Inc
$600,000-$1,000,000
69-18 Juniper Valley Road
$649,000
Single Family
3 bedrooms, 1 bathroom
Andrew LaSala, Crifasi Real Estate
Inc
Over $1,000,000
62-25 65th St.
$1,249,000
Multi-family
5 bedrooms, 2 1/2 bathrooms
Barbara Kot and Kaszuba Jaroslaw,
Exit All Seasons Realty
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