{"id":1004066599,"date":"2013-02-01T10:30:32","date_gmt":"2013-02-01T18:30:32","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=99435"},"modified":"2020-05-19T02:51:02","modified_gmt":"2020-05-19T10:51:02","slug":"long-island-city-building-gets-120m-financing-the-edge-is-top-selling-building-in-nyc","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/long-island-city-building-gets-120m-financing-the-edge-is-top-selling-building-in-nyc\/","title":{"rendered":"Long Island City Building Gets $120M Financing; The Edge Is Top Selling Building in NYC"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Veronica Grecu, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">One of the leading commercial real estate finance companies in the U.S., Walker &amp; Dunlop LLC of Bethesda, Md., recently announced that it provided $120 million financing for a high-rise apartment building in Long Island City, N.Y. The financing team lead by Walker &amp; Dunlop\u2019s Steven Heller arranged a 10-year loan through Fannie Mae with a 5-year interest, followed by a 30-year amortization period.<\/p>\n<p style=\"text-align: justify;\">Owned by TF Cornerstone Equities, the multifamily building located at 45-40 Center Blvd. is part of Stage Two of a master plan called Queens West Development. When completed, the development will include seven mixed-use residential buildings, 3,000 apartment units abd 1,825 parking spaces and retail spaces.<\/p>\n<p style=\"text-align: justify;\">45-40 Center Boulevard includes 345 luxury residential units with spectacular views of the Manhattan skyline. The upscale amenity package includes a concierge valet, a rooftop terrace and a full-service restaurant on the ground level.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/PShark-Top-Selling-Buildings-NYC.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-99509\" title=\"PShark Top Selling Buildings NYC\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/PShark-Top-Selling-Buildings-NYC.jpg\" alt=\"\" width=\"300\" height=\"234\" \/><\/a>In further residential real estate news, The Edge in Williamsburg was the top selling building in New York City for the second year in a row, according to a <a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\" rel=\"nofollow\">PropertyShark<\/a> market report. With 272 units sold in 2011 and 167 units sold in 2012 at a median price of $804,418, the property is now completely sold.<\/p>\n<p style=\"text-align: justify;\">The next top selling buildings include the Sheffield in Midtown West\u2014with 102 units sold at a median price of $1,453,231, followed by 99 John Deco Lofts in the Financial District\u2014where 84 units were sold in 2012 at a median price of $675,000. The fourth-top selling building on PropertyShark\u2019s list is One Brooklyn Bridge Park in Brooklyn Heights that saw 82 units sold in 2012 with a median price of $965,000.<\/p>\n<h6 style=\"text-align: justify;\"><em>Chart courtesy of <a href=\"https:\/\/www.propertyshark.com\" rel=\"nofollow\">PropertyShark<\/a><\/em><\/h6>\n<p>For more market data from New York City, <a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-demand-remains-strong-in-brooklyn-keeping-asking-rents-elevated\/1004071857.html\" rel=\"nofollow\">click here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Veronica Grecu, Associate Editor One of the leading commercial real estate finance companies in the U.S., Walker &amp; Dunlop LLC of Bethesda, Md., recently announced that it provided $120 million financing for a high-rise apartment building in Long Island City, N.Y. The financing team lead by Walker &amp; Dunlop&rsquo;s Steven Heller arranged a 10-year [&#8230;]<\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1600,21742],"tags":[1815],"class_list":["post-1004066599","post","type-post","status-publish","format-standard","hentry","category-new-york","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Long Island City Building Gets $120M Financing; The Edge Is Top Selling Building in NYC - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/long-island-city-building-gets-120m-financing-the-edge-is-top-selling-building-in-nyc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Long Island City Building Gets $120M Financing; The Edge Is Top Selling Building in NYC\" \/>\n<meta property=\"og:description\" content=\"By Veronica Grecu, Associate Editor One of the leading commercial real estate finance companies in the U.S., Walker &amp; Dunlop LLC of Bethesda, Md., recently announced that it provided $120 million financing for a high-rise apartment building in Long Island City, N.Y. The financing team lead by Walker &amp; Dunlop&rsquo;s Steven Heller arranged a 10-year [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/long-island-city-building-gets-120m-financing-the-edge-is-top-selling-building-in-nyc\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-02-01T18:30:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-19T10:51:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/PShark-Top-Selling-Buildings-NYC.jpg\" \/>\n<meta name=\"author\" content=\"Veronica Grecu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@VeraGrecu\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/long-island-city-building-gets-120m-financing-the-edge-is-top-selling-building-in-nyc\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/long-island-city-building-gets-120m-financing-the-edge-is-top-selling-building-in-nyc\\\/\"},\"author\":{\"name\":\"Veronica Grecu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/e8362e8641769829162f16fe58091f62\"},\"headline\":\"Long Island City Building Gets $120M Financing; 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