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**Newly Delivered LIC Rental Tower Secures $224.3M Bridge Loan**
JLL Capital Markets has arranged $224.3 million in bridge financing for The Italic, a newly completed, premier mixed-use residential tower located at 26–32 Jackson Avenue in Long Island City. The financing was secured on behalf of a joint venture between The Carlyle Group, Fetner Properties, and Lions Group. Wells Fargo served as the administrative agent and lender on the transaction.
Led by JLL’s Senior Managing Director Christopher Peck, Senior Director Nicco Lupo, Managing Director Michael Shmuely, and Director Alex Staikos, the team facilitated the deal for the high-profile development.
Completed in 2025, The Italic is a 49-story luxury residential building featuring 363 units—254 of which are market-rate and 109 designated as affordable housing. In addition to its residential offerings, the tower includes approximately 10,300 square feet of ground-floor retail space. The Italic is the sister property to The Bold, situated just across the street.
“The Italic stands out as one of the premier new residential developments in Long Island City, combining scale, design and an unmatched transit location,” said Peck. “This financing reflects lender confidence in the sponsorship, the quality of the asset and the long-term fundamentals of the Long Island City rental market.”
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