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.
Brooklyn’s Lenox Apartments Land $35M Refi
Greystone provided a $34,500,000 bridge loan to refinance Lenox Apartments, a 55-unit mixed-use property in Brooklyn’s Prospect Lefferts Garden neighborhood. The financing exits previous debt from Madison Realty Capital, providing time to stabilize the 9,000 square feet of commercial space on the ground retail floor of the property, located at 271 Lenox Rd.
The transaction was originated by managing director Anthony Cristi and originator Hope Curtis in Greystone’s New York office. Steven Vegh of Westwood Realty Associates acted as correspondent on behalf of the owner, Eli Karp. The bridge loan comprises a 24-month term with two six-month extensions.
Situated directly east of Prospect Park, Lenox Apartments was completed in 2018. The 16-story property is located near the Q train at Parkside Avenue, the 2 & 5 trains at Winthrop St., and just 30 minutes from Midtown Manhattan.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing

