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JLL Arranges Refi for Mixed-Use Residential on Long Island’s South Shore
JLL Capital Markets arranged a $154.25-million refinancing for Greybarn Amityville, a mixed-use residential property in Amityville, NY, owned by Rechler Equity Partners. Senior managing directors Peter Rotchford and Andrew Scandalios and director Clayton Ross arranged the financing through PCCP, LLC.
“Lenders are looking closely at how a multifamily property performs today and at the owner’s ability to keep it competitive over time,” said Rotchford. “Greybarn brought together established residential demand, a strong amenity offering and an owner that developed and continues to manage the property, all factors that helped us secure substantial financing in a market where lenders remain selective.”
Developed by Rechler in three phases between 2016 and 2020, Greybarn is located at 805 Broadway in Amityville on Long Island’s South Shore. It features 335 apartments and 37,737 square feet of ground-floor retail space. It’s a fully stabilized property in a market with limited new construction.
- ◦Financing
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