American Lions, LLC Announces 27-01 Jackson Avenue Is Fully Financed

NEW YORK, Nov. 23, 2021 /PRNewswire/ -- American Lions, LLC, a joint venture between Fetner Properties and the Lions Group, today announces its first project, 27-01 Jackson Avenue, is fully financed, with $95 million in backing from Bank Leumi USA, Leumi Partners, and Israeli Discount Bank (IDB). Located in Long Island City, 27-01 Jackson Avenue will be a 27-story rental building with 164 apartments, 30 percent of which will be affordable.

"Fetner Properties has a longstanding commitment to building, owning and managing high quality mixed income projects in New York City, and we are excited to officially commence construction of 27-01 Jackson. This milestone represents the cumulative efforts of colleagues and professionals across many disciplines over a period of years, all against the headwinds of national pandemic, and we are grateful to all," said Hal Fetner, president and CEO of Fetner Properties. "We are proud to be part New York City's economic recovery with the start of this project, and more importantly, we look forward to meeting the housing needs of New Yorkers from a wide range of economic backgrounds in the heart of Long Island City." 

27-01 Jackson Avenue is the first of a two-phase project for American Lions, which will include another tower across Jackson Avenue. SLCE Architects is the architect for both residential rental buildings.

This is the first project Fetner Properties has launched in Queens; they are well known for their well-run properties throughout Manhattan. The Shirian family were pioneering developers in Long Island City, getting the first permit after the re-zoning in 2001. Their company, the Lions Group, has built more projects than any other developer in the area.

"I'm thrilled to be building another project in Long Island City, as well as continuing to strengthen our relationship with Bank Leumi and Leumi Partners in addition to building a new one with Israeli Discount Bank," said Albert Shirian, co-founder of Lions Group. "Joining forces with Fetner was a natural fit, as we are both multi-generational family businesses dedicated to bringing the absolute best product to New York City residents. To commence our work together is a real honor."

"Bank Leumi USA is glad to be part of this exciting development as New York City comes out of the pandemic," said Jeff Puchin of Bank Leumi. "We look forward to another successful project with the Shirian Family and the Lions Group and growing our relationship with Fetner Properties."

Fetner Properties
Fetner Properties is a dynamic player in an ever-changing multifamily market; a full-service, fully integrated real estate company specializing in developing, owning, and managing residential properties, with ambitious new projects in the pipeline, Fetner is always on the forefront of the residential real estate industry. At Fetner Properties, residents are neighbors, not tenants, and every decision is made with them in mind. Our company has been creating communities in New York City since 1955, through three generations of family ownership.

Lions Group
Founded by immigrant brothers Albert and Ramin Shirian, Lions Group has excelled in driving quality projects within the famously aggressive New York real estate market since 1984. Extensive experience in ground-up residential and commercial real estate development has yielded a position as one of New York's premier real estate teams. Family-owned and managed, the Lions Group focuses on acquisition, development, construction, and management of residential, commercial and retail properties. The firm is committed to every project, big or small, ensuring results in design, construction, and quality of life for residents. The consistency and careful planning of dedicated professionals has transformed Lions Group into the rapidly growing company it is today.

American Lions, LLC
American Lions, LLC, is a joint venture between Fetner Properties and the Lions Group. Both are multi-generational family businesses dedicated to building, owning, and managing residential projects throughout New York City. In 2017, Fetner Properties and the Lions Group joined together as American Lions to focus on large-scale development projects in Long Island City, NY. The synergy of American Lions is built on the Lions Group's deep and unmatched understanding of Long Island City, their roots in the community, and the overall success of a multitude of projects, combined with Fetner's expertise in large-scale construction, finance, and management. American Lions is dedicated to building high-quality projects that strengthen communities and make great neighbors.

SOURCE American Lions, LLC