Slate Property Group Closes on $86M Refi for LIC Apartments
Slate Property Group has closed on an $86.25-million refinancing for Dutch House, a 186-unit multifamily property located at 37-05 30th St. in Long Island City. Walker & Dunlop Capital Markets Institutional Advisory, led by Aaron Appel, Jonathan Schwartz, Dustin Stolly, Keith Kurland, Adam Schwartz and Sean Bastian, represented Slate and Avenue Realty Capital in arranging the refinancing. Ares Capital Management provided the financing package, which will retire a PCCP facility previously arranged by the same Walker & Dunlop team in 2023.
Developed by Slate and its partner Avenue Realty Capital in early 2022, Dutch House is an eight-story multifamily building featuring 21,000 square feet of retail at ground level. The development is fully leased.
“The refinancing of Dutch House reflects continued strong market demand for best-in-class multifamily in Long Island City,” said Martin Nussbaum, co-founder and principal at Slate. “With the property fully leased, this asset continues to validate our conviction in both the quality of the development and the strength of this submarket.”
Other News
Mattapan Site Will Contain 105 Affordable Housing Units
Colliers arranged the $8.75 million sale of 1590 Blue Hill Ave., a 1.63-acre site in Boston’s Mattapan neighborhood. A partnership between the Planning Office for Urban Affairs, a nonprofit housing developer affiliated with the Archdiocese of Boston, and JGE Development acquired the property from the McKeen family. The partnrship has secured city approvals for a...
Learn more
NYC Median Apartment Rents Reach Record High
The median asking rent for New York City apartments reached a record $3,785 in the third quarter of 2026, up $162, or 4.5%, from a year ago, while buying a median-priced home cost $6,952 more per month than renting. With mortgage rates above 7%, the estimated monthly cost of that home would rise to about...
Learn more
Gilbane Development Breaks Ground on First Phase of $350M Student Housing Project
Gilbane Development has broken ground on The Southern Gateway, the first phase of “Elevate WKU,” a transformative $350 million public-private partnership with Western Kentucky University (WKU) to reimagine its on-campus housing. “With shovels now in the ground, Elevate WKU is one step closer to revitalizing aging campus infrastructure and delivering a modern, community-focused campus experience...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout