Brightshore Capital buys Long Island City apartment property for 143 million dollars

Brightshore Capital has acquired a 190-unit apartment property in Long Island City, according to reports by citybiz, PR Newswire, and Commercial Observer. The Business Journals and Commercial Observer reported that the transaction valued the property at 143 million dollars. [1][2][6][8][9]

To fund the acquisition, the firm secured debt financing for the purchase. citybiz reported that Brightshore Capital obtained 98.5 million dollars in financing, while Law360 reported the loan amount at 99 million dollars. [1][7]

Brightshore Capital is a real estate investment firm founded by Tom Shapiro in 2005. The firm specializes in the acquisition, development, and management of real estate assets. Long Island City is a neighborhood located in the New York City borough of Queens. [10][11]