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New York & Tri-State  + Outer  + Finance  | 

Greystone Arranges $32M CMBS Refi on Brooklyn Multifamily

Greystone has provided a $32,000,000 CMBS loan to refinance a 90-unit affordable housing property in Brooklyn. The financing was originated by Avi Lifshitz and Aviel Hematian of Greystone. Rose Schwartz and Gabby Gutwein of Everest Equity acted as correspondents on the transaction.

The first mortgage, provided at 51% loan-to-value, includes a five-year term with a 30-year amortization period. Constructed in 2023 and located in the Clinton Hill neighborhood of Brooklyn, 58 Vanderbilt Ave. is a high-rise apartment building featuring studio-, one- and two-bedroom units. The property’s amenities include a rooftop terrace, business center, recreation room, and bike storage lockers. In addition, there are two commercial units on the ground floor of the property.

“It is our mission to find the best financing solution for our clients, and thrilled that we were able to execute on a loan for this critical affordable housing in Brooklyn,” said Lifshitz.

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Greystone's Lifshitz

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).

  • ◦Financing