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Luxury Residential Tower 28 in LIC Receives $215M in Financing

Heatherwood Luxury’s 450-unit, market-rate rental building is in the Queenboro Plaza neighborhood of Long Island City, Queens

Tower 28, 42-12 28th St., Long Island City, Queens, New York Tower 28, 42-12 28th St., Long Island City, Queens, New York/ Image by Google Maps

NEW YORK CITY—Heatherwood Luxury Rentals obtained $215 million in refinancing for its newly constructed luxury residential property, Tower 28, in Long Island City, Queens.

The 58-story building is located at 42-12 28th St. in the Queensboro Plaza area. It was designed by Hill West Architects and completed in March 2017. The luxury residential tower contains 450 market-rate units spanning 330,708 rentable square feet. The building includes a game room, residents’ lounge, 46th floor furnished outdoor terrace, 59th floor observation deck, and indoor pool with a retractable roof. The units range from studios to four-bedroom, varying in designs and styles.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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