ARC Apartments
Long Island City, NY
Address:
30-02 39th Ave
Market:
Long Island City, NY
Units:
428
Asset Class:
Multi-Family
Status:
Loan Advisory - Completed
Property Description
ARC Apartments is a 428-unit multifamily property built in 2017 in Long Island City, NY. Ocean West was engaged in October 2023 as an advisor to the B-Note Lender, with the loan set to mature in six months. Ocean West conducted a thorough market and property analysis to understand the underlying value in the Lender’s position. Following extensive discussions and negotiations with the Borrower, Ocean West successfully negotiated a full payoff of the B-Note Loan prior to maturity.