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Lightstone Group lands refi for 30-02 39th Avenue

Developer was in line to benefit from Amazon’s proposed HQ2

Rendering of 30-02 39th Avenue (Credit: Lightstone Group)

David Lichtenstein’s Lightstone Group has secured an $187 million loan from Citibank to refinance its residential building at 30-02 39th Avenue in LIC. The fully leased property spans 393,520 square feet, and contains 428 apartments.

Dig Deeper: After acquiring the development site for a reported $23.2 million in 2016, Lightstone secured $75 million in construction financing from Canadian Imperial Bank of Commerce.

Crazy talk: After Amazon bailed on Long Island City, Lichtenstein told TRD: “It’s the worst day for New York City since 9-11, except this time the terrorists were elected.”

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