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Greystone Closes on Refi of Williamsburg Rentals
Greystone closed on a $50-million bridge loan to an affiliate of Hudson Companies to refinance House No. 94, a newly-built, 75-unit mixed-income rental building in Brooklyn’s Williamsburg section. The five-year, variable-rate loan was provided by an affiliate of Ares Management LLC to replace the original Wells Fargo construction facility.
Completed in 2018, House No. 94 features a 12,000-square-foot landscaped courtyard and an extensive amenity package. Retail tenants include SolidCore, a workout program focusing on controlled resistance training, and two luxury retailers to be announced in conjunction with early 2020 openings.
Greystone Capital Advisors, led by president Drew Fletcher, served as exclusive advisor on the transaction, with support from Managing Director Matthew Klauer and Analyst Cassandra Connolly.
“House No. 94 is another example of Hudson Companies’ unique ability to deliver contextual, thoughtfully-designed projects that offer great value to tenants while also enhancing the neighborhoods in which they are located,” said Fletcher.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
