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New York & Tri-State  + Long Island  + Senior Housing  | 

Greystone Provides $25M Healthcare Construction Loan for Long Island Homestead 

A historic homestead in Long Island’s Bay Shore will be transformed into a new Assisted Living and Memory Care community financed by a HUD-insured loan from Greystone. The $25.2 million construction loan is the only healthcare construction loan in the United States approved by HUD in 2022.

The project will reimagine the original Gulden’s Mustard family homestead, Netherbay, into a state-of-the-art care facility with 72 individual rooms dedicated to Memory Care and advanced Assisted Living residents.  

Operated by Meridian Senior Living, the community will apply Montessori principles to provide hands-on interventions and rehabilitation for residents. Originated by Greystone’s Lisa M. Fischman, the long-term construction-to-permanent financing converts from a construction loan to a 40-year, fully amortizing, non-recourse, fixed, low-rate loan. 


Inside The Story

Lisa M. Fischman

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

  • ◦Financing