{"id":4338,"date":"2021-11-02T05:09:19","date_gmt":"2021-11-02T10:09:19","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-57-million-in-total-fannie-mae-dus-financing-for-affordable-multifamily-properties-in-new-york-citys-outer-boroughs\/4338\/"},"modified":"2021-11-03T00:09:19","modified_gmt":"2021-11-03T05:09:19","slug":"greystone-provides-57-million-in-total-fannie-mae-dus-financing-for-affordable-multifamily-properties-in-new-york-citys-outer-boroughs","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-57-million-in-total-fannie-mae-dus-financing-for-affordable-multifamily-properties-in-new-york-citys-outer-boroughs\/4338\/","title":{"rendered":"Greystone Provides $57 Million in Total Fannie Mae DUS\u00ae Financing for Affordable Multifamily Properties in New York City\u2019s Outer Boroughs"},"content":{"rendered":"
The financing was originated by Eric Rosenstock and Jeff Englund of Greystone on behalf of Metropolitan Realty Group, LLC. <\/p>\n

The first loan, a $45 million fixed-rate, multifamily affordable housing (MAH) loan, carries a 10-year term and 30-year amortization, with two years of interest-only payments. Loan proceeds are being used to refinance the existing debt on a 330-unit Section 8 property in The Bronx. Constructed in 1931, West Farms Estates<\/strong> is a gated property, consisting of three mid-rise elevator buildings with studio, one-, two- and three-bedroom units as well as on-site security, leasing office, courtyard area and an on-site grocery store.<\/p>\n

The second fixed-rate Fannie Mae MAH loan, $12,341,000 for a 65-unit property in Brooklyn, carries a 12-year term with a 30-year amortization and two years of interest-only payments. Fulton Street South<\/strong> is a single seven-story Section 8 property constructed in 1985 with one- and two-bedroom units.<\/p>\n

\u201cGreystone is passionate about financing transactions that enable our clients to preserve and enhance quality affordable housing in New York City and across the nation,\u201d said Mr. Rosenstock. \u201cAccess to affordable housing is critical for so many, and Greystone remains unequivocally committed to facilitating transactions that support this vitally important housing over the long-term.\u201d<\/p>\n

\u201cGreystone\u2019s expertise across a range of affordable housing finance options has been essential to our business,\u201d said property owner Mr. Scott Jaffee of Metropolitan Realty Group, LLC. \u201cTheir knowledge in the market is unparalleled, and we are thrilled with the outcome of these deal in order to preserve affordable housing in NYC.\u201d<\/p>\n

About Greystone<\/strong>
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and\/or other Greystone affiliates. For more information, visit www.greystone.com<\/a>.<\/p>\n

PRESS CONTACT:<\/strong>
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com<\/a><\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

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NEW YORK, Oct. 13, 2021 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a total of $57,341,000 in Fannie Mae Delegated Underwriting and Servicing (DUS\u00ae) loans to refinance two affordable housing properties in New York City\u2019s Bronx and Brooklyn boroughs.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/4338"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=4338"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/4338\/revisions"}],"predecessor-version":[{"id":4360,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/4338\/revisions\/4360"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=4338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=4338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=4338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}