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New York & Tri-State  + Outer  + Finance  | 
475 Clermont apartments Brooklyn NYC

Greystone Arranges $143M Refi for RXR Rentals in Brooklyn

Greystone arranged a $143,100,000 permanent loan for affiliate entities of RXR Realty to refinance 475 Clermont, a multifamily rental building located at the intersection of Fort Greene, Clinton Hill, and Prospect Heights in Brooklyn.  

The Greystone Capital Advisors debt advisory team, led by Drew Fletcher and Matthew Hirsch, served as exclusive advisor to RXR. The new 10-year, fixed-rate loan was provided by an affiliate entity of MetLife Investment Management and refinances a $125,000,000 construction credit facility from JPMorgan and People’s United Bank that was also arranged by Greystone in 2017. 

“We appreciate our collaborative relationship with financial partners like Greystone,” said RXR Realty’s president, Michael Maturo. “Their commitment to 475 Clermont – from construction to long-term financing – further supports RXR’s vision and success in creating enduring value to the communities in which we develop and operate.” 

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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 13-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 15-20 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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