Brightshore Acquires Newly Built Long Island City Luxury Apartments

New York & Tri-State CRE News In Your Inbox. Sign up for Connect emails to stay informed with CRE stories that are 150 words or less. Brightshore Capital LP, formerly GTIS Partners, has acquired DŌMI, a newly constructed, 190-unit luxury multifamily property located at 29-24 40th Ave. in Long Island City, for slightly more than $143 million. The acquisition through Brightshore’s Opportunity Zone Fund II was financed with a $98.5-million loan from Affinius Capital. The seller was a joint venture of SB Development, Hazelton Capital Group and Avenue Realty Capital. “Long Island City has benefited from sustained residential expansion, fueled by convenient access to Manhattan, robust transportation links and continued investment in local infrastructure and neighborhood amenities,” said Rob Vahradian, partner at Brightshore.

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