News

Normandy, Keystone And Drake Street Secure $81M Loan For L.I.C. Development

The acquisition, development and repositioning of the office property is part of recent transitions in Long Island City, Queens.

NEW YORK CITY—Normandy Real Estate Partners has received $81 million in financing through a partnership with Keystone Equities and Drake Street Partners, for the acquisition, development and repositioning of 25-11 49th Ave. in Long Island City, Queens.

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Drake Street Partners Purchases LIC Warehouse Building

47-37 Austell Place, Long Island City, NY

A partnership of Drake Street Partners, Normandy Real Estate Partners, and GEM Realty Capital has purchased the Long Island City property between Skillman Avenue and 27th Street. The more than 110,000-square-foot former industrial building, which also has addresses of 47-11 and 47-51 Austell Place, has large windows, open-floor plans and a rooftop terrace with views of the Manhattan skyline. (more…)