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Greystone Finances Brooklyn Multifamily Portfolio

Greystone Finances Brooklyn Multifamily Portfolio

New York commercial real estate finance company Greystone has provided a $9,745,000 Fannie Mae Delegated Underwriting and Servicing, DUS, loan to refinance a multifamily portfolio consisting of 24 units in Brooklyn, New York, Greystone announced.

The transaction was originated by Jason Yuen of Greystone, with Abe Weinstock acting as correspondent.

The properties, 1624 East 12th St in Millwood and 116, 118 118A and 120 Seigel St in Williamsburg,   were constructed by the borrower in 2006 and 2008, respectively, and consist of a mix of one-, two-, and three-bedroom units. The non-recourse, fixed rate $9.7 million loan carries a 10-year term and 30-year amortization, with two years of interest-only payments and 74% loan-to-value, LTV.. 

“Greystone’s specialty is tapping our deep well of multifamily resources to navigate through complex transactions, and we love partnering with clients who have a strong connection to, and pride of ownership in, their properties,” Yuen said. 

“This financing was no exception. Our team worked tirelessly to ensure a swift closing that satisfied all of the parties and we look forward to delighting this client again in the future.”

“Jason and his team at Greystone are true partners who take unusual care to raise the bar on every transaction,” said Mr. Weinstock, correspondent on the transaction. “I value their insights and the level of care and service they provide to my clients, which is why I look forward to more successful closings with Greystone down the road.”

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Inside The Story

Jason Yuen

About Ted Jackson

A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.

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