Wells Fargo Provides $224.3M in Bridge Financing for Queens Apartment Tower

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Wells Fargo has provided $224.3 million in bridge financing for The Italic, a 50-story apartment tower in the Long Island City area of Queens. The building houses 363 units, with 109 designated as affordable housing, and includes amenities such as a communal lounge, fitness center, golf simulators, a basketball court, coworking spaces, and a rooftop terrace. Construction on The Italic topped out in late 2023, and leasing launched in spring 2025.

Why it matters

The Italic is a significant residential development in the rapidly growing Long Island City neighborhood of Queens, which has seen an influx of new apartment buildings in recent years. The bridge financing from Wells Fargo will help support the project's completion and leasing efforts.

The details

Designed by SLCE Architects and built by Hunter Roberts Construction Group, The Italic features 363 units in studio, one-, two- and three-bedroom configurations, with 109 residences designated as affordable housing. The building also includes commercial space. JLL arranged the financing on behalf of the owner, a joint venture between Fetner Properties, Lions Group, and The Carlyle Group.

• Construction on The Italic topped out in late 2023.
• Leasing for The Italic launched in spring 2025.

What’s next

The Italic is expected to continue leasing up its 363 units, including the 109 affordable housing units, in the coming months.