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New York & Tri-State  + Outer  + Finance  | 

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

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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