Real Estate

Queens Multi-story Industrial Property Lands $51M Refi

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The owners paid $72 million back in late 2018 for the 312,500-square-foot asset in Long Island City. : North River Co. and North Colony Asset Management have obtained a $51 million refinancing loan for the Matsil Building, a 312,500-square-foot industrial/flex property in Long Island City, N.Y. Cushman & Wakefield arranged the deal for the landlord, while affiliates of AIG provided the fixed-rate debt. The duo purchased the property in December 2018, in a $72 million deal. Completed in 1949 on a nearly 3-acre lot, the recently renovated, three-story asset at 48-49 35th St. is fully leased.

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