New York & Tri-State + Outer + Finance | May 19, 2020

Greystone Arranges DUS Debt on Ridgewood Apartments

Greystone provided $30,865,000 in Fannie Mae Delegated Underwriting and Servicing (DUS) loans to refinance a pair of multifamily properties in Queens on behalf of owner Adar Holdings USA. The transactions were originated by Anthony Cristi in Greystone’s New York office, with Jay Steinberg of Watermark Capital Group acting as correspondent on the transaction.

A $14,215,000 loan refinances 1635 Putnam Ave., a 49-unit property in Ridgewood, Queens; and a $16,650,000 loan refinances 1625 Putnam Ave., an adjacent 48-unit apartment building. Both Fannie Mae DUS loans carry 12-year terms with 30-year amortization periods.

“We are grateful for Greystone’s guidance, and thank Anthony for his trusted stewardship on lending options over the years,” said Meir Tabak of Adar Holdings.

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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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