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.
Astoria Multifamily Lands Fannie Mae DUS Refi
Greystone provided a $6,500,000 Fannie Mae Delegated Underwriting and Servicing loan to refinance a multifamily property in the Astoria section of Queens. The transaction was originated by Greystone director Jason Yuen, with George Eliopoulos of Velios Capital acting as correspondent.
The Fannie Mae loan has a fixed-rate 10-year term. The non-recourse loan refinances Madrid Towers, a 58-unit six-story elevator building located on the east side of 29th Street between 31st Avenue and 30th Drive.
“We are so pleased to assist this longtime family owner of 35 years in refinancing this well-located asset in Queens at a historically low full-term interest-only rate,” said Yuen. “The entire deal team at Greystone, including Brent Carter along with George at Velios, was instrumental in ensuring a timely closing.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing

