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**Stabilized LIC Rental Tower Secures $160M Refinancing**
JLL Capital Markets has advised World Wide Group and Rabina on a $160.25 million refinancing of QLIC, a 21-story luxury multifamily high-rise located in Long Island City, Queens. The 421-unit property also features ground-floor retail and is considered a stabilized asset with strong in-place cash flow and consistently high occupancy.
The refinancing was provided by KKR and is structured to offer a flexible capital solution. According to JLL, the financing is designed to support the sponsors’ long-term strategy while maximizing the property’s operational stability, steady cash flow, and remaining tax abatement benefits.
“QLIC is an ideally located, superior-quality asset with strong operating fundamentals and meaningful embedded upside,” said Lauren Kaufman, Managing Director at JLL Capital Markets.
The advisory team representing the sponsors included Christopher Peck, Senior Managing Director; and Managing Directors Lauren Kaufman and Michael Shmuely.
Located at 41-42 24th Street, QLIC is just two blocks from Queensboro Plaza Station and within walking distance to multiple subway lines and the East River ferry, offering residents seamless access to transportation throughout New York City.
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